DESIGN OF AN OPEN-SOURCE LABORATORY DEMONSTRATOR FOR PEER-TO-PEER TRADING IN LOCAL ENERGY MARKETS

Barry P. Hayes; Subhasis Thakur; Enda Barrett

doi:10.1049/icp.2021.1226

DESIGN OF AN OPEN-SOURCE LABORATORY DEMONSTRATOR FOR PEER-TO-PEER TRADING IN LOCAL ENERGY MARKETS

Barry P. Hayes
, Subhasis Thakur
, Enda Barrett

University of Galway

Research output: Chapter in Book/Report/Conference proceedings › Chapter › peer-review

Abstract

There is significant research interest in new energy trading mechanisms based on peer-to-peer or community-based markets, which are more consumer-centric and direct compared to traditional electricity retail markets. Such trading mechanisms require an electricity trading platform that can manage and settle energy transactions from vast numbers of small distributed energy resources, and therefore scalability and interoperability are major challenges. The hardware, communications and software required for implementing local energy trading platforms needs to be designed, tested and demonstrated in a real-time environment. Accordingly, this paper presents a design for an open-source laboratory demonstrator, which allows testing of the hardware and software required for peer-to-peer local energy trading using distributed ledger technology.

Original language	English
Title of host publication	IET Conference Proceedings
Publisher	Institution of Engineering and Technology
Pages	342-347
Number of pages	6
Volume	2020
Edition	5
ISBN (Electronic)	9781839535246
DOIs	https://doi.org/10.1049/icp.2021.1226
Publication status	Published - 2020
Event	12th Mediterranean Conference on Power Generation, Transmission, Distribution and Energy Conversion, MEDPOWER 2020 - Virtual, Online Duration: 9 Nov 2020 → 12 Nov 2020

Conference

Conference	12th Mediterranean Conference on Power Generation, Transmission, Distribution and Energy Conversion, MEDPOWER 2020
City	Virtual, Online
Period	9/11/20 → 12/11/20

Keywords

DiSTRIBUTED LEDGER TECHNOLOGY
DISTRIBUTION NETWORKS
LOCAL ENERGY MARKETS
PEER-TO-PEER ENERGY TRADING
PROSUMER

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10.1049/icp.2021.1226

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title = "DESIGN OF AN OPEN-SOURCE LABORATORY DEMONSTRATOR FOR PEER-TO-PEER TRADING IN LOCAL ENERGY MARKETS",

abstract = "There is significant research interest in new energy trading mechanisms based on peer-to-peer or community-based markets, which are more consumer-centric and direct compared to traditional electricity retail markets. Such trading mechanisms require an electricity trading platform that can manage and settle energy transactions from vast numbers of small distributed energy resources, and therefore scalability and interoperability are major challenges. The hardware, communications and software required for implementing local energy trading platforms needs to be designed, tested and demonstrated in a real-time environment. Accordingly, this paper presents a design for an open-source laboratory demonstrator, which allows testing of the hardware and software required for peer-to-peer local energy trading using distributed ledger technology.",

keywords = "DiSTRIBUTED LEDGER TECHNOLOGY, DISTRIBUTION NETWORKS, LOCAL ENERGY MARKETS, PEER-TO-PEER ENERGY TRADING, PROSUMER",

author = "Hayes, \{Barry P.\} and Subhasis Thakur and Enda Barrett",

note = "Publisher Copyright: {\textcopyright} 2020 The Institution of Engineering and Technology.; 12th Mediterranean Conference on Power Generation, Transmission, Distribution and Energy Conversion, MEDPOWER 2020 ; Conference date: 09-11-2020 Through 12-11-2020",

year = "2020",

doi = "10.1049/icp.2021.1226",

language = "English",

volume = "2020",

pages = "342--347",

booktitle = "IET Conference Proceedings",

publisher = "Institution of Engineering and Technology",

address = "United Kingdom",

edition = "5",

}

Hayes, BP, Thakur, S & Barrett, E 2020, DESIGN OF AN OPEN-SOURCE LABORATORY DEMONSTRATOR FOR PEER-TO-PEER TRADING IN LOCAL ENERGY MARKETS. in IET Conference Proceedings. 5 edn, vol. 2020, Institution of Engineering and Technology, pp. 342-347, 12th Mediterranean Conference on Power Generation, Transmission, Distribution and Energy Conversion, MEDPOWER 2020, Virtual, Online, 9/11/20. https://doi.org/10.1049/icp.2021.1226

TY - CHAP

T1 - DESIGN OF AN OPEN-SOURCE LABORATORY DEMONSTRATOR FOR PEER-TO-PEER TRADING IN LOCAL ENERGY MARKETS

AU - Hayes, Barry P.

AU - Thakur, Subhasis

AU - Barrett, Enda

PY - 2020

Y1 - 2020

N2 - There is significant research interest in new energy trading mechanisms based on peer-to-peer or community-based markets, which are more consumer-centric and direct compared to traditional electricity retail markets. Such trading mechanisms require an electricity trading platform that can manage and settle energy transactions from vast numbers of small distributed energy resources, and therefore scalability and interoperability are major challenges. The hardware, communications and software required for implementing local energy trading platforms needs to be designed, tested and demonstrated in a real-time environment. Accordingly, this paper presents a design for an open-source laboratory demonstrator, which allows testing of the hardware and software required for peer-to-peer local energy trading using distributed ledger technology.

AB - There is significant research interest in new energy trading mechanisms based on peer-to-peer or community-based markets, which are more consumer-centric and direct compared to traditional electricity retail markets. Such trading mechanisms require an electricity trading platform that can manage and settle energy transactions from vast numbers of small distributed energy resources, and therefore scalability and interoperability are major challenges. The hardware, communications and software required for implementing local energy trading platforms needs to be designed, tested and demonstrated in a real-time environment. Accordingly, this paper presents a design for an open-source laboratory demonstrator, which allows testing of the hardware and software required for peer-to-peer local energy trading using distributed ledger technology.

KW - DiSTRIBUTED LEDGER TECHNOLOGY

KW - DISTRIBUTION NETWORKS

KW - LOCAL ENERGY MARKETS

KW - PEER-TO-PEER ENERGY TRADING

KW - PROSUMER

UR - https://www.scopus.com/pages/publications/85138260813

U2 - 10.1049/icp.2021.1226

DO - 10.1049/icp.2021.1226

M3 - Chapter

AN - SCOPUS:85138260813

VL - 2020

SP - 342

EP - 347

BT - IET Conference Proceedings

PB - Institution of Engineering and Technology

T2 - 12th Mediterranean Conference on Power Generation, Transmission, Distribution and Energy Conversion, MEDPOWER 2020

Y2 - 9 November 2020 through 12 November 2020

ER -

DESIGN OF AN OPEN-SOURCE LABORATORY DEMONSTRATOR FOR PEER-TO-PEER TRADING IN LOCAL ENERGY MARKETS

Abstract

Conference

Keywords

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