Design of an open-source laboratory demonstrator for peer-to-peer trading in local energy markets
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Date
2020-01
Authors
Hayes, Barry P.
Thakur, Subhasis
Barrett, Enda
Journal Title
Journal ISSN
Volume Title
Publisher
Institution of Engineering and Technology (IET)
Published Version
Abstract
There is significant research interest in new energy trading mechanisms based on peer-to-peer or community-based markets, which are more consumer-centric and direct compared to traditional electricity retail markets. Such trading mechanisms require an electricity trading platform that can manage and settle energy transactions from vast numbers of small distributed energy resources, and therefore scalability and interoperability are major challenges. The hardware, communications and software required for implementing local energy trading platforms needs to be designed, tested and demonstrated in a real-time environment. Accordingly, this paper presents a design for an open-source laboratory demonstrator, which allows testing of the hardware and software required for peer-to-peer local energy trading using distributed ledger technology.
Description
Keywords
Distributed ledger technology , Distribution networks , Local energy markets , Peer-to-peer energy trading , Prosumer
Citation
Hayes, B. P., Thakur, S. and Barrett, E. (2020) 'Design of an open-source laboratory demonstrator for peer-to-peer trading in local energy markets', 12th Mediterranean Conference on Power Generation, Transmission, Distribution and Energy Conversion (MEDPOWER 2020), Online, 9 - 12 November, pp. 342-347. doi: 10.1049/icp.2021.1226
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Copyright
© 2020, Institution of Engineering and Technology (IET).