@article{5150306fc22042b6a4901d83d86458e9,
title = "Peer-to-Peer Trading in Electricity Networks: An Overview",
abstract = "Peer-to-peer trading is a next-generation energy management technique that economically benefits proactive consumers (prosumers) transacting their energy as goods and services. At the same time, peer-to-peer energy trading is also expected to help the grid by reducing peak demand, lowering reserve requirements, and curtailing network loss. However, large-scale deployment of peer-to-peer trading in electricity networks poses a number of challenges in modeling transactions in both the virtual and physical layers of the network. As such, this article provides a comprehensive review of the state-of-the-art in research on peer-to-peer energy trading techniques. By doing so, we provide an overview of the key features of peer-to-peer trading and its benefits of relevance to the grid and prosumers. Then, we systematically classify the existing research in terms of the challenges that the studies address in the virtual and the physical layers. We then further identify and discuss those technical approaches that have been extensively used to address the challenges in peer-to-peer transactions. Finally, the paper is concluded with potential future research directions.",
keywords = "Peer-to-peer trading, auction theory, blockchain, challenges, energy cost, energy management, energy market, future research, game theory, network loss, physical layer, storage, virtual layer, voltage violation",
author = "Wayes Tushar and Saha, {Tapan Kumar} and Chau Yuen and David Smith and Poor, {H. Vincent}",
note = "Funding Information: Manuscript received September 15, 2019; revised November 24, 2019; accepted January 17, 2020. Date of publication January 28, 2020; date of current version June 19, 2020. This work was supported in part by the Queensland State Government under the Advance Queensland Research Fellowship under Grant AQRF11016-17RD2, in part by NSFC under Grant 61750110529, in part by National Satellite of Excellence in Design Science and Technologies for Secure Critical Infrastructure (NSoE DeST-SCI) under Grant DeST-SCI2019-0007, and in part by the U.S. National Science Foundation under Grant ECCS-1824710. Paper no. TSG-01363-2019. (Corresponding author: Tapan Kumar Saha.) Wayes Tushar and Tapan Kumar Saha are with the School of Information Technology and Electrical Engineering, University of Queensland, Brisbane, QLD 4072, Australia (e-mail: wayes.tushar.t@ieee.org; saha@itee.uq.edu.au). Funding Information: This work was supported in part by the Queensland State Government under the Advance Queensland Research Fellowship under Grant AQRF11016-17RD2, in part by NSFC under Grant 61750110529, in part by National Satellite of Excellence in Design Science and Technologies for Secure Critical Infrastructure (NSoE DeST-SCI) under Grant DeSTSCI2019-0007, and in part by the U.S. National Science Foundation under Grant ECCS-1824710. Paper no. TSG-01363-2019. (Corresponding author: Tapan Kumar Saha.) Publisher Copyright: {\textcopyright} 2010-2012 IEEE.",
year = "2020",
month = jul,
doi = "10.1109/TSG.2020.2969657",
language = "English (US)",
volume = "11",
pages = "3185--3200",
journal = "IEEE Transactions on Smart Grid",
issn = "1949-3053",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
number = "4",
}