A Peer-to-Peer Energy Management Solution for Maximum Social Welfare

TL;DR

This paper proposes a P2P energy trading system within smart communities that integrates solar power, EVs, and demand response to maximize social welfare and enhance urban sustainability.

Contribution

It introduces a novel integrated framework for P2P energy management combining EV parking-sharing, solar energy, and demand response for improved economic and social outcomes.

Findings

Enhanced energy efficiency through direct P2P trading.

Improved social welfare and economic returns for prosumers.

Effective integration of EV parking-sharing with energy management.

Abstract

In smart energy communities, prosumers who both generate and consume energy play a crucial role in shaping energy management strategies. These communities use advanced platforms that enable prosumers to actively engage in the local electricity markets by setting and adjusting their own energy prices. Through peer to peer (P2P) energy trading systems, members can directly exchange energy derived from sources such as solar photovoltaic panels, electric vehicle battery storage, and demand response (DR) programs. This direct exchange not only enhances the efficiency of the network but also fosters a dynamic energy market within the community. In this article, parking-sharing services for EVs and the mechanisms of P2P energy scheduling, which facilitates the transfer and communication of power among different energy communities (ECs) are addressed. It focuses on integrating solar power, responsive electrical loads, and electric vehicles (EVs) to optimize both economic returns and social benefits for all participants. The system is designed to ensure that all energy transactions are transparent and beneficial to the proactive consumers involved. Moreover, due to urban traffic conditions and the challenges of finding suitable locations for EV charging and parking, houses in these communities provide parking-sharing services for EVs. This integration of energy management and urban scheduling illustrates a holistic approach to addressing both energy and transportation challenges, ultimately leading to more sustainable urban environments.