TY - GEN
T1 - The Impact of Regulatory Frameworks on Peer-to-Peer Energy Trading and Prosumer Rewards in Energy Communities
AU - Sanfilippo, Antonio
AU - Boumaiza, Ameni
AU - Shannak, Sad
AU - Qarnain, Syed
N1 - Publisher Copyright:
© 2024 IEEE.
PY - 2024
Y1 - 2024
N2 - With the increasing ubiquity of Renewable Energy Communities (RECs), peer-to-peer energy trading is gradually entering its global operational phase. In addition to existing peer-to-grid energy trading programs, several countries have developed special regulatory frameworks that reward prosumers who share the excess energy they produce within RECs that are virtually defined over the national grid. In addition, peer-to-peer energy sharing can be independently regulated within RECs established as microgrids that have their own operating structure. This study examines the impact of regulatory frameworks on peer-to-peer energy sharing and prosumer rewards in diverse RECs. Using agent-based modeling, we create social simulations for RECs where prosumer rewards are diversely regulated and then measure the success of energy sharing as financial benefits to prosumers. Results show that the removal or reduction of fuel subsidies and the adoption of net metering to reward prosumers are the most effective measures to ensure the highest rewards for prosumers. The use of batteries to store excess energy produced for later self-consumption can also be effective, especially in microgrid energy communities.
AB - With the increasing ubiquity of Renewable Energy Communities (RECs), peer-to-peer energy trading is gradually entering its global operational phase. In addition to existing peer-to-grid energy trading programs, several countries have developed special regulatory frameworks that reward prosumers who share the excess energy they produce within RECs that are virtually defined over the national grid. In addition, peer-to-peer energy sharing can be independently regulated within RECs established as microgrids that have their own operating structure. This study examines the impact of regulatory frameworks on peer-to-peer energy sharing and prosumer rewards in diverse RECs. Using agent-based modeling, we create social simulations for RECs where prosumer rewards are diversely regulated and then measure the success of energy sharing as financial benefits to prosumers. Results show that the removal or reduction of fuel subsidies and the adoption of net metering to reward prosumers are the most effective measures to ensure the highest rewards for prosumers. The use of batteries to store excess energy produced for later self-consumption can also be effective, especially in microgrid energy communities.
KW - Agent-Based Modeling
KW - Energy Storage
KW - Peer-to-Peer Energy Trading
KW - Prosumer Rewards
KW - Regulatory Frameworks
KW - Renewable Energy Communities
UR - http://www.scopus.com/inward/record.url?scp=105000888214&partnerID=8YFLogxK
U2 - 10.1109/IECON55916.2024.10905350
DO - 10.1109/IECON55916.2024.10905350
M3 - Conference contribution
AN - SCOPUS:105000888214
T3 - IECON Proceedings (Industrial Electronics Conference)
BT - IECON 2024 - 50th Annual Conference of the IEEE Industrial Electronics Society, Proceedings
PB - IEEE Computer Society
T2 - 50th Annual Conference of the IEEE Industrial Electronics Society, IECON 2024
Y2 - 3 November 2024 through 6 November 2024
ER -