Microeconomics

Game theory

Renewable energy

Ecology

Peer-to-peer

Computer science

Energy consumption

Repeated game

Biology

Electrical engineering

Stackelberg competition

Prosumer

Competition (biology)

Distributed computing

Control (management)

Engineering

Artificial intelligence

Economics

Microgrid

IEEE Transactions on Industrial Electronics

This paper proposes a novel game-theoretic model for peer-to-peer (P2P) energy trading among the prosumers in a community. The buyers can adjust the energy consumption behavior based on the price and quantity of the energy offered by the sellers. There exist two separate competitions during the trading process: 1) price competition among the sellers; and 2) seller selection competition among the buyers. The price competition among the sellers is modeled as a noncooperative game. The evolutionary game theory is used to model the dynamics of the buyers for selecting sellers. Moreover, an M-leader and N-follower Stackelberg game approach is used to model the interaction between buyers and sellers. Two iterative algorithms are proposed for the implementation of the games such that an equilibrium state exists in each of the games. The proposed method is applied to a small community microgrid with photo-voltaic and energy storage systems. Simulation results show the convergence of the algorithms and the effectivene...

Peer-to-Peer Energy Trading in a Prosumer-Based Community Microgrid: A Game-Theoretic Model