Optimization and Congestion Management in Peer-to-Peer Energy Trading Network

Abstract

As fossil fuel resources are depleting, renewable energy resources are emerging as new sources of energy. Distributed energy resource technologies like photovoltaic solar systems, energy storage systems are connected to the grid, making the consumers of energy prosumers. Prosumers can participate in selling and buying of energy and can trade with the grid but also among themselves. This new direct trading of energy is called Peer-to-Peer energy trading, which encourages prosumers for more self-consumption. This dissertation report addresses the pricing mechanism and optimization models. With internal pricing model developed in this report, Photovoltaic prosumers can easily trade with each other. The optimization model developed in this report help prosumer to get maximum benefits of P2P energy trading instead selling energy to the utility grid. The peer-to-peer optimization model decreases the transmission losses in transmitting power among photovoltaic prosumers. This report also presents a congestion management technique for relieving the congested line with the help of series compensation reactance.