Techno-economic analysis of a blockchain-enabled rooftop solar photovoltaic based peer-to-peer energy market using agent-based model

Research output: Conference Papers (RGC: 31A, 31B, 32, 33)Abstractpeer-review

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Detail(s)

Original languageEnglish
Publication statusPublished - Dec 2021

Conference

Title6th AIEE Energy Symposium Current and Future Challenges to Energy Security
LocationOnline
PlaceItaly
CityMilan
Period14 - 17 December 2021

Abstract

Overview
The rise in distributed energy resources (DER) has enabled the modernization of electric power grids, especially in shifting the energy generation from utilities to end-users. This shift permits the end-users to become prosumers where they can produce and consume energy, leading to localized renewable-based power markets. Though this shift has resulted in prosumers, many end-users may remain as consumers, due to socio-economic conditions, who depend upon either utilities or prosumers for their energy needs. For this reason, localized power markets have been emerging lately, where the transfer of energy can occur among the end-users with the help of a peer-to-peer (P2P) energy trading platforms, e.g., power ledger. P2P energy trading is a free-market system that allows end-users to trade excess electricity with neighbours through a bidding model. Though the P2P markets may help manage the distributed generation of electricity, the issues such as trading prices, end-users priorities and behaviours, trading governance, network structures, energy billing still exist and influence their feasibility. Hence, this study explores the performance of a P2P market considering rooftop solar photovoltaics for distributed power generation through an Agent Based Model (ABM) to simulate a real-world implementation and quantify its techno-economic performance.

Data Collection, System Design and Methods
A preliminary survey is performed to identify a set of cities in India that experience the most power outages. The data for modelling rooftop solar photovoltaic system energy systems include the number of houses in the selected city, rooftop areas for each house and weather data experienced by each house (e.g., solar radiation, wind speed, ambient temperature). For the cities selected in our study, the data collection for the aforementioned parameters has been performed. In addition, the data on central and state-level subsidies and feed-in tariffs are collected for economic feasibility assessment. The system design includes the sizing of rooftop solar photovoltaic array specific to end-user requirements (prosumer and consumer) along with storage units. Then, the localized power market pool of various prosumers and consumers is created along with the power transmission network by following individual end-user behaviours. To allow the end-users and utility interaction, we developed a blockchain-enabled P2P power market governance system architecture. We applied the ABM approach to simulate the end-users, followed by techno-economic, to understand the influence of end-user behaviour on performance and proposed system feasibility.

Results and Conclusions
The simulated interactions of end-users gave insights regarding the localized electricity market pool and the alternative governance structure of the P2P network. The ABM simulation results include the net energy, energy prices, and sold energy within and out of the market pool. We also observe that the dynamics of electricity prices are influenced by the physical arrangement of the P2P network. In addition, the technical parameters in the design aspects of the rooftop solar photovoltaic system have also influenced the prices and energy available for initiating the trade transactions at the prosumer and consumer level. The economic assessment results revealed that individual end-users could make a reasonable amount of revenue after the payback period. The proposed blockchain-enabled P2P transactions has eased the participation of end-users in the localized market.

Research Area(s)

  • Rooftop solar, solar photovoltaics, Solar in India, blockchain, P2P energy trading, Agent based model, energy price, Community microgrid, Community solar

Bibliographic Note

Information for this record is supplemented by the author(s) concerned.

Citation Format(s)

Techno-economic analysis of a blockchain-enabled rooftop solar photovoltaic based peer-to-peer energy market using agent-based model. / Singh, Animesh; Nallapaneni, Manoj Kumar; Chopra, Shauhrat S.

2021. Abstract from 6th AIEE Energy Symposium Current and Future Challenges to Energy Security, Milan, Italy.

Research output: Conference Papers (RGC: 31A, 31B, 32, 33)Abstractpeer-review