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State-Of-The-Art and Prospects for Peer-To-Peer Transaction-Based Energy System

Author

Listed:
  • Olamide Jogunola

    (School of Engineering, Manchester Metropolitan University, Manchester M1 5GD, UK)

  • Augustine Ikpehai

    (School of Engineering, Manchester Metropolitan University, Manchester M1 5GD, UK)

  • Kelvin Anoh

    (School of Engineering, Manchester Metropolitan University, Manchester M1 5GD, UK)

  • Bamidele Adebisi

    (School of Engineering, Manchester Metropolitan University, Manchester M1 5GD, UK)

  • Mohammad Hammoudeh

    (School of Engineering, Manchester Metropolitan University, Manchester M1 5GD, UK)

  • Sung-Yong Son

    (Department of Electrical Engineering, Gachon University, Seongnam-si 13120, Gyeonggi-do, Korea)

  • Georgina Harris

    (School of Engineering, Manchester Metropolitan University, Manchester M1 5GD, UK)

Abstract

Transaction-based energy (TE) management and control has become an increasingly relevant topic, attracting considerable attention from industry and the research community alike. As a result, new techniques are emerging for its development and actualization. This paper presents a comprehensive review of TE involving peer-to-peer (P2P) energy trading and also covering the concept, enabling technologies, frameworks, active research efforts and the prospects of TE. The formulation of a common approach for TE management modelling is challenging given the diversity of circumstances of prosumers in terms of capacity, profiles and objectives. This has resulted in divergent opinions in the literature. The idea of this paper is therefore to explore these viewpoints and provide some perspectives on this burgeoning topic on P2P TE systems. This study identified that most of the techniques in the literature exclusively formulate energy trade problems as a game, an optimization problem or a variational inequality problem. It was also observed that none of the existing works has considered a unified messaging framework. This is a potential area for further investigation.

Suggested Citation

  • Olamide Jogunola & Augustine Ikpehai & Kelvin Anoh & Bamidele Adebisi & Mohammad Hammoudeh & Sung-Yong Son & Georgina Harris, 2017. "State-Of-The-Art and Prospects for Peer-To-Peer Transaction-Based Energy System," Energies, MDPI, vol. 10(12), pages 1-28, December.
    • Handle: RePEc:gam:jeners:v:10:y:2017:i:12:p:2106-:d:122447
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    References listed on IDEAS

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    6. Georgarakis, Elena & Bauwens, Thomas & Pronk, Anne-Marie & AlSkaif, Tarek, 2021. "Keep it green, simple and socially fair: A choice experiment on prosumers’ preferences for peer-to-peer electricity trading in the Netherlands," Energy Policy, Elsevier, vol. 159(C).
    7. Tushar, Wayes & Yuen, Chau & Saha, Tapan K. & Morstyn, Thomas & Chapman, Archie C. & Alam, M. Jan E. & Hanif, Sarmad & Poor, H. Vincent, 2021. "Peer-to-peer energy systems for connected communities: A review of recent advances and emerging challenges," Applied Energy, Elsevier, vol. 282(PA).
    8. Min Hee Chung, 2020. "Comparison of Economic Feasibility for Efficient Peer-to-Peer Electricity Trading of PV-Equipped Residential House in Korea," Energies, MDPI, vol. 13(14), pages 1-21, July.
    9. Gorbatcheva, Anna & Watson, Nicole & Schneiders, Alexandra & Shipworth, David & Fell, Michael J., 2024. "Defining characteristics of peer-to-peer energy trading, transactive energy, and community self-consumption: A review of literature and expert perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 202(C).
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    12. Kristie Kaminski Küster & Daniel Gebbran & Alexandre Rasi Aoki & Germano Lambert-Torres & Daniel Navarro-Gevers & Patrício Rodolfo Impinisi & Cleverson Luiz da Silva Pinto, 2023. "Adoption of Local Peer-to-Peer Energy Markets: Technical and Economical Perspectives for Utilities," Energies, MDPI, vol. 16(5), pages 1-24, March.
    13. Koo-Hyung Chung & Don Hur, 2020. "Towards the Design of P2P Energy Trading Scheme Based on Optimal Energy Scheduling for Prosumers," Energies, MDPI, vol. 13(19), pages 1-15, October.
    14. Sousa, Tiago & Soares, Tiago & Pinson, Pierre & Moret, Fabio & Baroche, Thomas & Sorin, Etienne, 2019. "Peer-to-peer and community-based markets: A comprehensive review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 104(C), pages 367-378.
    15. Olamide Jogunola & Bamidele Adebisi & Kelvin Anoh & Augustine Ikpehai & Mohammad Hammoudeh & Georgina Harris & Haris Gacanin, 2018. "Distributed Adaptive Primal Algorithm for P2P-ETS over Unreliable Communication Links," Energies, MDPI, vol. 11(9), pages 1-16, September.
    16. Matteo Troncia & Marco Galici & Mario Mureddu & Emilio Ghiani & Fabrizio Pilo, 2019. "Distributed Ledger Technologies for Peer-to-Peer Local Markets in Distribution Networks," Energies, MDPI, vol. 12(17), pages 1-19, August.
    17. Olamide Jogunola & Augustine Ikpehai & Kelvin Anoh & Bamidele Adebisi & Mohammad Hammoudeh & Haris Gacanin & Georgina Harris, 2017. "Comparative Analysis of P2P Architectures for Energy Trading and Sharing," Energies, MDPI, vol. 11(1), pages 1-20, December.
    18. Mehdi Montakhabi & Ine Van Zeeland & Pieter Ballon, 2022. "Barriers for Prosumers’ Open Business Models: A Resource-Based View on Assets and Data-Sharing in Electricity Markets," Sustainability, MDPI, vol. 14(9), pages 1-29, May.
    19. Di Silvestre, Maria Luisa & Gallo, Pierluigi & Guerrero, Josep M. & Musca, Rossano & Riva Sanseverino, Eleonora & Sciumè, Giuseppe & Vásquez, Juan C. & Zizzo, Gaetano, 2020. "Blockchain for power systems: Current trends and future applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 119(C).
    20. Roman Le Goff Latimier & H. Ben Ahmed, 2023. "Peer to peer electricity markets," Post-Print hal-04268639, HAL.
    21. Arnob Das & Susmita Datta Peu & Md. Abdul Mannan Akanda & Abu Reza Md. Towfiqul Islam, 2023. "Peer-to-Peer Energy Trading Pricing Mechanisms: Towards a Comprehensive Analysis of Energy and Network Service Pricing (NSP) Mechanisms to Get Sustainable Enviro-Economical Energy Sector," Energies, MDPI, vol. 16(5), pages 1-27, February.

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