Abstract
Peer-to-peer electricity markets are dedicated markets that enable the direct participation of small electricity end-users in energy trading activities. They are seen as a promising alternative that can empower end-users and accelerate the energy transition, by researchers, business developers, and legislators. Moreover, they can include environmental, social, or altruistic preferences that are relevant to end-users, in addition to the economic perspective. Such preferences are sometimes included in the modeling of P2P markets in the existing literature, but the assumptions behind them are rarely validated in practice. To investigate the desired attributes and preferences of end-users to participate in P2P markets, an online survey including a discrete choice experiment was conducted in The Netherlands The results of the survey are used to design a P2P electricity market with product differentiation. The participants in the market are residential end-users that are equipped with a home energy management system that can control some of the household appliances and automate the decision-making process for participation in the market. To facilitate this, a multi-objective stochastic optimization model is presented that incorporates results from the discrete choice experiment and real smart-meter measurements. The case study results demonstrate user preferences’ influence on market outcomes.
| Original language | English |
|---|---|
| Article number | 120956 |
| Number of pages | 19 |
| Journal | Applied Energy |
| Volume | 338 |
| DOIs | |
| Publication status | Published - 15 May 2023 |
Bibliographical note
Funding Information:This work is part of the research program “Enabling peer-to-peer energy trading by leveraging prosumer analytics” with project number 647.003.003, partly supported by The Netherlands Organization for Scientific Research (NWO).The authors would like to thank Agnes Tan from PEL for her support and collaboration in conducting the survey. Moreover, we would like to thank Niek Brekkelmans and Joris Hoeksma for the preliminary design of the survey. We thank Sawtooth Software Inc. for providing a research grant that was used for the preliminary design of the survey. We appreciate the support from Sjoerd Doumen and Julia Dubbelman concerning the accurate translation of the survey into the Dutch language. Finally, we would like to thank our colleagues from the Electrical Energy Systems research group for providing feedback on the survey.
Funding Information:
This work is part of the research program “Enabling peer-to-peer energy trading by leveraging prosumer analytics” with project number 647.003.003 , partly supported by The Netherlands Organization for Scientific Research (NWO) .
Keywords
- Discrete choice experiment
- Goal programming
- Multi-objective optimization
- P2P electricity markets
- Stochastic optimization
