Incentive-Driven Energy Trading in the Smart Grid

Ke Zhang, Yuming Mao, Supeng Leng, Sabita Maharjan, Yan Zhang, Alexey Vinel, Magnus Jonsson
2016 IEEE Access  
The smart grid is widely considered as an efficient and intelligent power system. With the aid of communication technologies, the smart grid can enhance the efficiency and reliability of the grid system through intelligent energy management. However, with the development of new energy sources, storage and transmission technologies together with the heterogeneous architecture of the grid network, several new features have been incorporated into the smart grid. These features make the energy
more » ... ng more complex and pose a significant challenge on designing efficient trading schemes. Based on this motivation, in this paper, we present a comprehensive review of several typical economic incentive approaches adopted in the energy-trading control mechanisms. We focus on the technologies that address the challenges specific to the new features of the smart grid. Furthermore, we investigate the energy trading in a new cloud-based vehicle-to-vehicle energy exchange scenario. We propose an optimal contract-based electricity trading scheme, which efficiently increases the generated profit. INDEX TERMS Energy trading, economic incentive, smart grid. Recently, with the development of IoT, power technologies VOLUME 4, 2016 2169-3536
doi:10.1109/access.2016.2543841 fatcat:t3v72h64sjafxn47s2sboqlj3m