Abstract
Peer-to-peer energy trading is the futuristic approach to conserve and trade renewable sources of energy in an economical manner. Peer-to-peer trading leads to a decentralized open free market which benefits both the prosumers who have surplus energy and the consumer with energy deficit. This paper provides a review on the challenges, outcomes, solutions and future research that should be conducted in this area. The various challenges are integrating generation, transmission in a large scale, efficient control of microgrid, developing smart energy meter, complex behavior of prosumers and consumers. The areas of consideration by the previous researchers are game theory, simulation, trading platform, blockchain, optimization and algorithms. We provide a solution by creating a POWERITER cryptocurrency to trade power within local microgrid within blockchain ecosystem for transparency and secured features. It will be a public distributed ledger with proper timestamp consensus. The miners will be rewarded POWERITER tokens to maintain the ledger. This paper will help the researchers for qualitative and quantitative analysis of peer-to-peer energy trading technologies. It is a relatively new topic; there must be a further research to implement this concept in the real-time environment.
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Abbreviations
- P2P:
-
Peer to peer
- Prosumers:
-
People who produce and consume simultaneously
- DER:
-
Distributed energy resources
- USD:
-
United States Dollar
- ESD:
-
Energy storing devices
- ICT:
-
Information and communication technology
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Das, R., Ray, S.S., Mohapatra, G., Kar, S.K. (2022). A Review of Challenges and Solution in Peer-to-Peer Energy Trading of Renewable Sources. In: Dehuri, S., Prasad Mishra, B.S., Mallick, P.K., Cho, SB. (eds) Biologically Inspired Techniques in Many Criteria Decision Making. Smart Innovation, Systems and Technologies, vol 271. Springer, Singapore. https://doi.org/10.1007/978-981-16-8739-6_28
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DOI: https://doi.org/10.1007/978-981-16-8739-6_28
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