Strategic Prosumers based Peer-to-Peer Energy Market Design for Residential Microgrids

With the rapid popularization of photovoltaics (PVs), battery energy storage systems (BESSs) and electric vehicles (EVs) in residential microgrids, more and more "prosumers" have participated in actively trading energy with peers, which promotes the appearance of peer-to-peer (P2P) energy trading mode. Since this P2P trading could enhance the grid's reliability and improve the social welfare in the system, trading mechanism research, in the context of P2P energy trading, have attracted considerable attentions. However, in recent studies, there still are some limitations, such as a lack of proper pricing strategies and a lack of consideration about forward energy trading. To solve these problems, this paper designs a P2P energy trading mechanism based on both hour-ahead market and real-time market. In the proposed mechanism, to increase P2P transactions and maximize social benefits at each market, some proper pricing strategies, such as a risk-implemented simultaneous game-theoretic approach and auction-based pricing strategy, have been adopted. Meanwhile, the proposed mechanism also considers a balance responsible party (BRP) to offer reserve services for realizing purposes. Moreover, the effectiveness of the proposed trading mechanism has been verified by several case studies.