A Dynamic Peer-to-Peer Electricity Market Model for a Community Microgrid with Price-Based Demand Response

Peer-to-Peer (P2P) energy sharing enables prosumers within a community microgrid to directly trade their local resources such as solar photovoltaic (PV) panels, small-scale wind turbines, electric vehicle battery storage among each other based on an agreed cost-sharing mechanism. This paper addresses the cost minimization problem associated with P2P smart homes which are connected in residential community. The contribution of this is threefold. First, effective Home Energy Management System (HEMS) proposed for equipped generation rooftop and appliances achieve demand response (DR) objective. Second, proposes pricing mechanism dynamic supply-demand ratio export-import retail prices ratio. model motivates individual customers participate trading ensures that not single household would be worse off. Finally, performance mechanism, compared three popular models literature namely Supply Demand Ratio (SDR), Mid-Market Rate (MMR) bill (BS) considering different types peers vehicle, domestic system. framework has been applied consisting 100 households simulation results demonstrate fairness substantial saving/revenue peers. also assessed under physical constrains distribution network.