Peer-to-Peer Energy Trading Schemes for Sustainable Cities (2017-2020)
Abstract
Present electricity supply models are based on centralized and fossil-fuel-based supply, with very high cost and poor environmental sustainability. This project aims to address these issues by empowering individual users to participate in energy trading with each other and with the central energy supplier, and increasing the flow of clean energy within the grid system. This fellowship will closely work with Redback Operations Pty Ltd to explore the technique of peer-to-peer (P2P) energy trading by managing storage devices at the different levels of the grid system and will propose scheduling mechanisms for individual users with distributed energy resources. However, P2P trading involves energy management across various heterogeneous entities with different properties and energy objectives. Hence, this project will explore the potential of game theory, auction theory, and data science in designing suitable energy trading schemes with practical impacts, and propose a P2P energy trading scheme across various heterogeneous energy entities, through novel integration of different approaches, which will also consider diverse practical constraints. The resulting P2P system will increase the use of renewable energy among users in Queensland with reduced cost to the individual user. Further, it could be used with any islanded microgrid in Australia and traditional energy system.
