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Welfare in Peer-to-Peer Energy Communities Considering Prosumers' Preferences

Mohseni, Mojtaba | 2025

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 57974 (44)
  4. University: Sharif University of Technology
  5. Department: Management and Economics
  6. Advisor(s): Hesamzadeh, Mohammad Reza; Fatemi, Farshad
  7. Abstract:
  8. The preferences of participants can have negative impacts on the efficiency and welfare of peer-to-peer energy communities. If the preferences of participants lead to suboptimal market participation and energy consumption, it can result in price fluctuations, increased costs, and reduced participation in peer-to-peer energy markets, ultimately diminishing community welfare. To demonstrate the effect of participants preferences in the peer-to-peer market, a fully decentralized peer-to-peer energy market for prosumers equipped with photovoltaic production and storage is designed and modeled. In the proposed market, prosumers are divided into buyers and sellers and can trade energy bilaterally. It has been proven that the proposed approach achieves a globally optimal solution similar to the centralized method. The results of the decentralized approach align with the centralized method and achieve maximum social welfare without imposing preferences. In this study, the wholesale market price is assumed to be uncertain. Using stochastic programming to model this uncertainty, it is shown that the uncertainty in wholesale prices reduces overall community welfare. When sellers' preferences are applied, overall welfare further decreases, violating the assumption of welfare equality in centralized and decentralized communities. Finally, assuming uncertainty in photovoltaic production and self-consumption, robust optimization is used in the prosumers' model. The proposed decentralized robust optimization ensures the existence of solutions for every realization of uncertainty components and performs optimization for the worst case scenario of uncertainty. More significant reductions in community welfare are observed with robust modeling under various wholesale price uncertainties
  9. Keywords:
  10. Peer-to-Peer Energy Trading ; Prosumers ; Welfare Effects ; Stochastic Programming ; Robust Optimization ; Prosumer Preferences

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