Optimized shared energy storage in a peer-to-peer energy trading market: Two-stage strategic model regards bargaining and evolutionary game theory

Ye He, Hongbin Wu*, Andrew Y. Wu, Peng Li, Ming Ding

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

24 Citations (Scopus)

Abstract

With the increasing demand of users for distributed energy storage (ES) resources and the emerging development of peer to peer (P2P) transaction technology, shared energy storage (SES) has great potential to contribute into new business models of demand-side ES. In order to compromise essential elements like safety, stability and efficiency of P2P trading, as well as to improve the utilization rate of demand-side ES, this paper devotes to construct a P2P transaction framework based on a partially decentralized topology and proposes a two-stage trading optimization strategy of SES in a P2P market, considering the equilibrium state of supply and demand flow. In the first stage, this paper simultaneously balances the interests of buyers and sellers and brings the carbon trading mechanism into the transaction process. The interaction of interests of bilateral parties with consideration of carbon trading mechanism has been investigated, and a SES capacity sharing model is, then, established based on the bargaining game theory. In the second stage, a unique pricing mechanism for SES leasing fee is designed based on a multi-strategy evolutionary game model, considering bounded rational decision-making for SES operators and communities. Finally, numerical simulation verified the feasibility and superiority of the proposed P2P trading strategy of SES.

Original languageEnglish
Article number120190
JournalRenewable Energy
Volume224
DOIs
Publication statusPublished - Apr 2024
Externally publishedYes

Keywords

  • Bargaining game theory
  • Carbon trading mechanism
  • Evolutionary game theory
  • Peer-to-peer transaction
  • Shared energy storage

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