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Business Model of Peer-to-Peer Energy Trading: A Review of Literature

Author

Listed:
  • Hani Muhsen

    (Department of Mechatronics Engineering, School of Applied Technical Sciences, German Jordanian University, Madaba 11180, Jordan
    Smart Grid Lab, German Jordanian University, Madaba 11180, Jordan)

  • Adib Allahham

    (School of Engineering, Newcastle University, Newcastle upon Tyne NE1 7RU, UK)

  • Ala’aldeen Al-Halhouli

    (Department of Mechatronics Engineering, School of Applied Technical Sciences, German Jordanian University, Madaba 11180, Jordan
    Smart Grid Lab, German Jordanian University, Madaba 11180, Jordan)

  • Mohammed Al-Mahmodi

    (Smart Grid Lab, German Jordanian University, Madaba 11180, Jordan)

  • Asma Alkhraibat

    (Smart Grid Lab, German Jordanian University, Madaba 11180, Jordan)

  • Musab Hamdan

    (Smart Grid Lab, German Jordanian University, Madaba 11180, Jordan)

Abstract

Peer-to-peer (P2P) energy trading is a promising energy trading mechanism due to the deployment of distributed energy resources in recent years. Trading energy between prosumers and consumers in the local energy market is undergoing massive research and development, paying significant attention to the business model of the energy market. In this paper, an extensive review was conducted on the current research in P2P energy trading to understand the business layer of the energy market concerning business model dimensions: bidding strategies and the market-clearing approach. Different types of game theoretical-based and auction-based market-clearing mechanisms are investigated, including a detailed classification of auctions. This study considers the possibility of employing the P2P technique in developing countries and reviewing existing business models and trading policies. The business layer of the P2P structure plays a vital role in developing an effective trading mechanism based on interactive energy markets.

Suggested Citation

  • Hani Muhsen & Adib Allahham & Ala’aldeen Al-Halhouli & Mohammed Al-Mahmodi & Asma Alkhraibat & Musab Hamdan, 2022. "Business Model of Peer-to-Peer Energy Trading: A Review of Literature," Sustainability, MDPI, vol. 14(3), pages 1-22, January.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:3:p:1616-:d:738576
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    Citations

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    Cited by:

    1. Lubov Petrichenko & Antans Sauhats & Illia Diahovchenko & Irina Segeda, 2022. "Economic Viability of Energy Communities versus Distributed Prosumers," Sustainability, MDPI, vol. 14(8), pages 1-24, April.
    2. Chun Xia-Bauer & Florin Vondung & Stefan Thomas & Raphael Moser, 2022. "Business Model Innovations for Renewable Energy Prosumer Development in Germany," Sustainability, MDPI, vol. 14(13), pages 1-17, June.
    3. Lopez, Hector K. & Zilouchian, Ali, 2023. "Peer-to-peer energy trading for photo-voltaic prosumers," Energy, Elsevier, vol. 263(PA).
    4. Marco Galici & Mario Mureddu & Emilio Ghiani & Fabrizio Pilo, 2022. "Blockchain-Based Hardware-in-the-Loop Simulation of a Decentralized Controller for Local Energy Communities," Energies, MDPI, vol. 15(20), pages 1-25, October.
    5. Sara Khan & Uzma Amin & Ahmed Abu-Siada, 2024. "P2P Energy Trading of EVs Using Blockchain Technology in Centralized and Decentralized Networks: A Review," Energies, MDPI, vol. 17(9), pages 1-17, April.
    6. Hani Muhsen & Asma Alkhraibat & Ala’aldeen Al-Halhouli, 2023. "Real-Time Simulation and Energy Management Attainment of Microgrids," Sustainability, MDPI, vol. 15(3), pages 1-16, February.
    7. Younes Zahraoui & Tarmo Korõtko & Argo Rosin & Hannes Agabus, 2023. "Market Mechanisms and Trading in Microgrid Local Electricity Markets: A Comprehensive Review," Energies, MDPI, vol. 16(5), pages 1-52, February.
    8. Zheyuan Sun & Sara Tavakoli & Kaveh Khalilpour & Alexey Voinov & Jonathan Paul Marshall, 2024. "Barriers to Peer-to-Peer Energy Trading Networks: A Multi-Dimensional PESTLE Analysis," Sustainability, MDPI, vol. 16(4), pages 1-23, February.
    9. Shama Naz Islam, 2024. "A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies," Energies, MDPI, vol. 17(7), pages 1-18, April.
    10. Wang, Juan & Zheng, Junjun & Yu, Liukai & Goh, Mark & Tang, Yunying & Huang, Yongchao, 2023. "Distributed Reputation-Distance iterative auction system for Peer-To-Peer power trading," Applied Energy, Elsevier, vol. 345(C).

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