Peer-to-peer energy arbitrage in prosumer-based smart residential distribution system

Md Habib Ullah, Jae Do Park

Research output: Chapter in Book/Report/Conference proceedingConference contribution

12 Scopus citations

Abstract

Peer-to-peer (P2P) energy arbitrage has emerged as a next-generation energy management system and extended the benefits of traditional prosumers (producer+buyer) into the distribution system. It allows the prosumers to participate in energy trading among themselves beside the utility grid to maximize energy utilization. However, it is challenging for the prosumers to make the optimal decision in trading with limited information at the same time in a secured platform. This paper proposes a distributed P2P energy arbitrage model for prosumer-based smart residential distribution systems using dual decomposition distributed optimization approach. The proposed system provides a privacy-preserving environment for the prosumers to participate in the trading in a distributed manner through a multi-agent system developed in Java Agent Development (JADE) framework. The prosumers share only partial information to settle the trade. The result shows that the algorithm converges very fast and facilitates easy implementation. The economic benefits of the prosumers are analyzed to verify the effectiveness of the proposed algorithm.

Original languageEnglish (US)
Title of host publication2019 IEEE Energy Conversion Congress and Exposition, ECCE 2019
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages508-514
Number of pages7
ISBN (Electronic)9781728103952
DOIs
StatePublished - Sep 2019
Event11th Annual IEEE Energy Conversion Congress and Exposition, ECCE 2019 - Baltimore, United States
Duration: Sep 29 2019Oct 3 2019

Publication series

Name2019 IEEE Energy Conversion Congress and Exposition, ECCE 2019

Conference

Conference11th Annual IEEE Energy Conversion Congress and Exposition, ECCE 2019
Country/TerritoryUnited States
CityBaltimore
Period9/29/1910/3/19

All Science Journal Classification (ASJC) codes

  • Mechanical Engineering
  • Control and Optimization
  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

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