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P2P trading mode for real-time coupled electricity and carbon markets based on a new indicator green energy

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  • Wang, Longze
  • Zhang, Yan
  • Li, Zhehan
  • Huang, Qiyu
  • Xiao, Yuxin
  • Yi, Xinxing
  • Ma, Yiyi
  • Li, Meicheng

Abstract

The carbon trading market has introduced new opportunities for the low-carbon transformation of China's power industry. To realize real-time coupling of the electric–carbon market at the mechanism level, this study constructs a P2P trading mode that improves economic and environmental benefits through innovative mechanisms. First, we propose a novel indicator, Green Energy, which has multidimensional composite attributes and accurately characterizes the supply of clean and low-carbon energy. Green Energy is used as a matchmaking indicator in the P2P electricity market to increase the rate of renewable energy consumption and encourage emission reduction of fossil energy suppliers. Second, the carbon price is dynamically adjusted according to real-time electricity consumption information and it is transmitted to the electricity market through Green Energy. Third, blockchain cross-chain interoperability technology is introduced to establish a real-time data-sharing network for electricity and carbon co-trading. Moreover, a case study is conducted, and the simulation results show that the proposed method improves social welfare by over 18% compared to the traditional trading mode. And it can improve renewable energy utilization efficiency by 26.78% and reduce carbon emissions by more than 17%. This study provides a reference for the real-time coupled electricity and carbon markets.

Suggested Citation

  • Wang, Longze & Zhang, Yan & Li, Zhehan & Huang, Qiyu & Xiao, Yuxin & Yi, Xinxing & Ma, Yiyi & Li, Meicheng, 2023. "P2P trading mode for real-time coupled electricity and carbon markets based on a new indicator green energy," Energy, Elsevier, vol. 285(C).
    • Handle: RePEc:eee:energy:v:285:y:2023:i:c:s0360544223025732
    DOI: 10.1016/j.energy.2023.129179
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