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Peer-to-Peer Energy Trading and Sharing

Lecture

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The rise of 'prosumers' - mass market consumers who also sell energy to the grid - has made our power distribution networks more complex than ever before. Prof Furong Li explains how peer-to-peer energy trading and sharing could provide an answer.

Postponed

Date and Time

28 May 2018 - 19:00-21:00

Location

Bath, United Kingdom - icon_popup  (See map)

Organiser

Organised by the UK - SW:Bristol local network.


About this event

The future electrical grid will have unprecedented complexity and uncertainty. The cost of low carbon technologies (such as photovoltaics (PV), electric vehicles, battery storage and heat pumps) is rapidly decreasing and they are increasingly being connected to the edge of the grid. Millions of businesses and homes, which were traditionally passive energy consumers, will become energy prosumers that can store, convert and/or generate energy, enabling them to be active actors. Each actor will make independent decisions to pursue their own 'selfish' or 'altruistic' goals. These emerging traits make conventional centralised control, dispatch and scheduling tools no longer fit for purpose. The rise of prosumers, where energy buyers and sellers become increasingly blurred, is far beyond the capability of the current market and system operation framework.

Prof Furong Li will talk about EPSRC-funded research carried out by the University of Bath to investigate how to align the technical and market arrangements with diverse social requirements, such that 'selfish and independent' goals pursued by millions of customers are aligned with the interests of the communities and the system.  This has looked at the principles of collaborative consumption/sharing economy and advanced understanding of prosumer energy to deliver a prototype peer-to-peer energy trading/sharing (P2P-ETS) platform, which could lead to a unique scalable market place for mass prosumers to buy/sell/share energy themselves.  The goal is to provide mass consumers access to the grid, while substantially reducing the grid balancing and upgrading costs.  Through combining leading UK/Korean strengths in smart grids, technologies, whole-system analyses, power system economics, big data and machine learning, the project aims to accelerate the understanding, design, development and deployment of P2P-ETS in the UK, Korea and beyond.

Programme

19:00 - Networking and free refreshments
19:30 - Lecture

Continuing Professional Development

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This event can contribute towards your Continuing Professional Development (CPD) as part of the IET's CPD monitoring scheme.

Additional information

About the Speaker

Professor Li received her BEng from Hohai university, Nanjing, China in 1990 and PhD from Liverpool John Moores University in 1997. From there, she took up the lectureship with the Department of Electronic and Electrical Engineering at the University of Bath, where she became a senior lecturer in 2006.

Professor Li is a visiting professor to Sichuang University, secretary of the IEEE Power System Economics Committee and co-chair of the Prize Paper Nomination Committee for the Power System Economics division of IEEE.  She leads a team of 10 PhD students and research officers, researching into all aspects of power system planning, operation, analysis and power system economics.

Venue

Room 2.4
Building E1
University of Bath
Claverton Down
Bath BA2 7AY

Registration information

To reserve your free space and help us plan catering, please register online using the button below.

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