Peer-to-peer energy trading system development in smart grid

In an open electricity market, consumers can decide between buying electricity from retailers of their choice or to buy from utility companies at a regulated tariff. However, consumers with rooftop solar panels and battery energy storage systems, have no tools available for them to directly sell exc...

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Main Author: Ho, Justyn Wee Kit
Other Authors: Gooi Hoay Beng
Format: Final Year Project
Language:English
Published: Nanyang Technological University 2022
Subjects:
Online Access:https://hdl.handle.net/10356/157601
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-1576012023-07-07T19:33:15Z Peer-to-peer energy trading system development in smart grid Ho, Justyn Wee Kit Gooi Hoay Beng School of Electrical and Electronic Engineering EHBGOOI@ntu.edu.sg Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries In an open electricity market, consumers can decide between buying electricity from retailers of their choice or to buy from utility companies at a regulated tariff. However, consumers with rooftop solar panels and battery energy storage systems, have no tools available for them to directly sell excess energy to sell to other consumers. For them, peer-to-peer energy trading is one of the promising solutions to implement a decentralized electricity market, which could attract more participants in the future. In the peer-to-peer trading, each consumer negotiates directly with other consumers without any intervention of a conventional intermediary. This project aims to develop a lab-scale peer-to-peer energy trading system for consumers whose assets are connected in a micro grid. The main objective of the object is to develop a proper market-clearing mechanism for peer-to-peer energy trading between producers and consumers. The market-clearing mechanism should be efficient and set with the objective of energy trading. Bachelor of Engineering (Electrical and Electronic Engineering) 2022-05-21T06:51:50Z 2022-05-21T06:51:50Z 2022 Final Year Project (FYP) Ho, J. W. K. (2022). Peer-to-peer energy trading system development in smart grid. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/157601 https://hdl.handle.net/10356/157601 en A1056-211 application/pdf Nanyang Technological University
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries
spellingShingle Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries
Ho, Justyn Wee Kit
Peer-to-peer energy trading system development in smart grid
description In an open electricity market, consumers can decide between buying electricity from retailers of their choice or to buy from utility companies at a regulated tariff. However, consumers with rooftop solar panels and battery energy storage systems, have no tools available for them to directly sell excess energy to sell to other consumers. For them, peer-to-peer energy trading is one of the promising solutions to implement a decentralized electricity market, which could attract more participants in the future. In the peer-to-peer trading, each consumer negotiates directly with other consumers without any intervention of a conventional intermediary. This project aims to develop a lab-scale peer-to-peer energy trading system for consumers whose assets are connected in a micro grid. The main objective of the object is to develop a proper market-clearing mechanism for peer-to-peer energy trading between producers and consumers. The market-clearing mechanism should be efficient and set with the objective of energy trading.
author2 Gooi Hoay Beng
author_facet Gooi Hoay Beng
Ho, Justyn Wee Kit
format Final Year Project
author Ho, Justyn Wee Kit
author_sort Ho, Justyn Wee Kit
title Peer-to-peer energy trading system development in smart grid
title_short Peer-to-peer energy trading system development in smart grid
title_full Peer-to-peer energy trading system development in smart grid
title_fullStr Peer-to-peer energy trading system development in smart grid
title_full_unstemmed Peer-to-peer energy trading system development in smart grid
title_sort peer-to-peer energy trading system development in smart grid
publisher Nanyang Technological University
publishDate 2022
url https://hdl.handle.net/10356/157601
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