A peer-to-peer energy trading model for community microgrids with energy management

The multi-microgrid structure is emerging as one of the most promising concept for future distribution systems to provide resilience and independence energy operation with the energy exchange of other entities. In the distribution system, all microgrid owners and other stakeholders are benefited by sharing the locally generated energy with the adjacent microgrid entities with the help of energy trading process. The peer-to-peer (P2P) energy trading is one of the best suitable energy-trading method for multi-microgrid systems because of the absence of third-party entity. This paper proposes a hierarchical P2P energy trading model with the incorporation of an energy management scheme for multi-microgrid systems to provide efficient and effective results in the energy trading market. The proposed model is applied to a typical multi-microgrid community system to show the economic benefits of various microgrid stakeholders. The different case studies have been performed in the result analysis to show the impact of energy management scheme on the P2P energy-trading model. From the simulation results, it is evident that the implementation of energy management scheme reduces the operation cost of all microgrids together in the community area by 28.38% in scenario 1, 38.86% in scenario 2, and 39.21% in scenario 3 respectively. The overall result analysis shows that the proposed hierarchical P2P model with the energy management integration can provide the better cost reduction when compared to other scenarios, and also the total load demand is reduced by 29.51%, the renewable energy utilization is improved by 22.39% within the multi-microgrid community system.