In this blog we give you main info on Peer to Peer Energy trading about its working, entities in it and the bidding approaches that exists in this field. To know these details, you can go through this blog.

Construction of a Microgrid

    Nowadays Microgrid is a growing system that is in use on many countries. The Microgrid can work with or without connecting to grid. One of the main thing to build Microgrid is, a renewable resource which can be of solar panels or wind turbine. But, in case of residency it prefers solar panels than wind, since it requires larger space and cost. Also in urban areas, it is hard to create wind turbine. In contrast, the solar can equip in the upstairs where the sunrays reaches direct to the panels.

How Energy Trading in Microgrid?

    Hereby the Microgrid incorporates energy trading between peers i.e. peer to peer as P2P energy trading. The grid holders can be commercial or residential entities who are the prosumers in the system. The common aim of this P2P system is to provide reasonable cost and improve energy generation. For this energy trading, bidding is the default method which is in use. Here are the main entities on the P2P energy trading system.

What are the Three Main Entities in P2P Energy Trading?

1. Producer – A producer is the one who produces energy from renewable energy source. The producers generate energy and store it in the battery. They are aware of the amount of energy in battery, so that it bids at any moment. In simple a producer is a seller.
2. Consumer – A consumer is the one who requests for energy from the producers. These consumers are the buyers, they purchase energy as per their need with respect to the amount of cost.
3. Prosumer – A prosumer is the one who has the role of both seller and buyer i.e. they can sell and also purchase the energy. In case if the load is too large at a time, then the prosumer can buy energy and vice versa.

    Based on the above entities the bidding takes place for the energy and then trade on peers will happen.  In this concept each entity in the system are the peers which bid for energy and cost satisfaction. For this bidding, game theory is popular in study on many research areas.

Different Game Theoretic Algorithms in P2P Energy Trading

1. Cooperative Game Theory

• Bargaining
• Coalition

2. Non-Cooperative Game Theory

• Stochastic
• Bayesian
• Stackelberg

   We are familiar with the above game theory methods and we work already in the field so that you can submit your needs in PhD to us. You can gain a lot of technical things from our team. If you need PhD help in writing Thesis, proposal, paper, assignments and so on. For all PhD services, you can just make a mail into our inbox. It is not that you need to work with us, even you can ask for cost free guidance and suggestion if any.