A Bidding System for Peer-to-Peer Energy Trading in a Grid-connected Microgrid

Peer-to-Peer (P2P) energy trading is a novel paradigm of power system operation, where people can generate their own energy from Renewable Energy Sources (RESs) in dwellings, offices and factories, and share it with each other locally. An architecture model was proposed to present the design and interoperability aspects of components for P2P energy trading in a microgrid. A specific Customer-to-Customer business model was introduced in a benchmark grid-connected microgrid based on the architecture model. The core component of a bidding system, called Elecbay, was also proposed and simulated using game theory. Test results show that P2P energy trading is able to balance local generation and demand, therefore, has a potential to enable a large penetration of RESs in the power grid.