Communication‐resilient and convergence‐fast peer‐to‐peer energy trading scheme in a fully decentralized framework

Abstract

Abstract The wide deployment of distributed energy resources, combined with a more proactive demand‐side management, is boosting the emergence of the peer‐to‐peer market. In the present study, an innovative peer‐to‐peer energy trading model is introduced, enabling a group of price‐setting prosumers to engage in direct negotiations via a straightforward best‐response approach. A Nash equilibrium problem (NEP) is initially formulated and a sufficient condition for the unique solution of the NEP is derived. Afterward, an asynchronous and convergence‐fast solving method is employed to determine the trading quantity and price. The efficiency and resilience of the presented method are demonstrated through a comprehensive case study.

Keywords

• energy economics
• energy markets
• peer‐to‐peer energy trading
• prosumer
• Nash equilibrium
• communication resilience