Peer to Peer Trading in Electricity Networks

The Peer to Peer trading in electricity network is designed to be both efficient and cost effective. It primarily consists of prosumers made with the application of generating and consume electricity and consumers with application of consume electricity. This Peer to Peer trading in electricity netw

Project Title

Peer to Peer Trading in Electricity Networks

Project Area of Specialization

Electrical/Electronic Engineering

Project Summary

The Peer to Peer trading in electricity network is designed to be both efficient and cost effective. It primarily consists of prosumers made with the application of generating and consume electricity and consumers with application of consume electricity. This Peer to Peer trading in electricity network structure will be self-developed. The ICT infrastructure (Information and Communications Technology Infrastructure and Systems) will be based mainly on microcontroller (Raspberry Pi), through which the whole network of electricity is being controlled by using algorithms. The whole data will be storing in on cloud storage The network will be having layers i.e. physical, virtual and etc. virtual layer will be consisting of information system, market operation, pricing mechanism and energy management system. While, the physical layer includes grid connection, metering and communication infrastructure.

Project Objectives

• Providing the shortest path between the generation side and consumer side.
• Smart load-shedding in order to manage the load requirements.
• Higher renewable power deployment.

Project Implementation Method

Project will be implemented by using the following method 
Research on components, simulations, testing and validation.

Benefits of the Project

This technology will provide the ease in overcoming the power demand of a prosumer by connecting it through another prosumer and it’ll all be done on the mobile through internet. So one can have multiple utilities or multiple sources of power supply which will increase the competition in the market resulting in cheaper electricity.

• Industrial sector:

This will be helpful mostly for industries because in Pakistan the unit price of electricity is increased in the increase in demand of electricity, so having cheaper electricity in the market will be profitable for industrial sector.

• Commercial and Residential sector:

Moreover, this project/technology is helpful for local users as they create micro grids and then they will be exchanging the excess amount of electricity with the other users connected in the grid at cheaper, affordable and with minimum power losses.

• Nation-wide:

This technology will be helpful for a state, as it’ll provide ease to the less populated areas or areas located on country-side.

Technical Details of Final Deliverable

Prototype will be able to work in wireless mode, The structure will be designed in such a way that it can work on energy trading, local energy system, micro grid etc. The evolution of peer-to-peer energy trading is examined from five perspectives: market design, trading platforms, power and ICT infrastructure, regulation and policy, and social science, furthermore details regarding equipment’s can be seen in budget section.

Final Deliverable of the Project

HW/SW integrated system

Core Industry

Energy

Other Industries

IT , Telecommunication

Core Technology

Internet of Things (IoT)

Other Technologies

Cloud Infrastructure

Sustainable Development Goals

Affordable and Clean Energy, Industry, Innovation and Infrastructure, Sustainable Cities and Communities

Required Resources

If you need this project, please contact me on contact@adikhanofficial.com