Be it prosumers, consumers, distribution utilities or retailers, Local Energy Markets (LEM) is proved to be a win-win for all. Read this latest journal article based on real-time case studies to learn more about the many benefits of LEM.
This paper presents case studies on local energy market (LEM) in Australia, in which energy users take part frequently in peer-to-peer (P2P) energy trading among themselves considering the agile presence of energy retailers and distribution utilities. The actors in LEM are prosumers (with and without batteries), consumers, distribution utilities (as application host) and retailers/suppliers as facilitators of transactions.
Results show that margins of both energy retailers and distribution utilities improve. The buyers and sellers also make monies by selling above the FiT or buying below the grid buy price. The case studies validate that LEMs are win-win-win for all actors. Regulators and distribution utilities and retailers should strongly consider LEM as a non-wired way forward to manage the distribution grid.
Read the full article here: https://ieeexplore.ieee.org/document/9964210
Authors: Dr. Liaqat Ali, M. Imran Azim, Dr. Vivek Bhandari, Anand Menon, Vinod Tiwari, Dr. Jemma Green, S. M. Muyeen, Jan Peters.