Please use this identifier to cite or link to this item:
Title: Peer-to-peer energy trading in a prosumer-based community microgrid : a game-theoretic model
Authors: Paudel, Amrit
Chaudhari, Kalpesh
Long, Chao
Gooi, Hoay Beng
Keywords: Engineering::Electrical and electronic engineering
Issue Date: 2018
Source: Paudel, A., Chaudhari, K., Long, C., & Gooi, H. B. (2019). Peer-to-peer energy trading in a prosumer-based community microgrid : a game-theoretic model. IEEE Transactions on Industrial Electronics, 66(8), 6087-6097. doi:10.1109/tie.2018.2874578
Journal: IEEE Transactions on Industrial Electronics
Abstract: This paper proposes a novel game-theoretic model for peer-to-peer (P2P) energy trading among the prosumers in a community. The buyers can adjust the energy consumption behavior based on the price and quantity of the energy offered by the sellers. There exist two separate competitions during the trading process: 1) price competition among the sellers; and 2) seller selection competition among the buyers. The price competition among the sellers is modeled as a noncooperative game. The evolutionary game theory is used to model the dynamics of the buyers for selecting sellers. Moreover, an M-leader and N-follower Stackelberg game approach is used to model the interaction between buyers and sellers. Two iterative algorithms are proposed for the implementation of the games such that an equilibrium state exists in each of the games. The proposed method is applied to a small community microgrid with photo-voltaic and energy storage systems. Simulation results show the convergence of the algorithms and the effectiveness of the proposed model to handle P2P energy trading. The results also show that P2P energy trading provides significant financial and technical benefits to the community, and it is emerging as an alternative to cost-intensive energy storage systems.
ISSN: 0278-0046
DOI: 10.1109/TIE.2018.2874578
Schools: School of Electrical and Electronic Engineering 
Rights: © 2018 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. The published version is available at:
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:EEE Journal Articles

Files in This Item:
File Description SizeFormat 
Peer-to-Peer Energy Trading in a Prosumer-Based Community Microgrid-A Game-Theoretic.pdf630.51 kBAdobe PDFThumbnail

Citations 1

Updated on Jun 6, 2024

Web of ScienceTM
Citations 1

Updated on Oct 27, 2023

Page view(s)

Updated on Jun 12, 2024

Download(s) 5

Updated on Jun 12, 2024

Google ScholarTM




Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.