Energy Pricing in P2P Energy Systems Using Reinforcement Learning

• URL: http://arxiv.org/abs/2210.13555v1
• Date: Mon, 24 Oct 2022 19:21:10 GMT
• Title: Energy Pricing in P2P Energy Systems Using Reinforcement Learning
• Authors: Nicolas Avila, Shahad Hardan, Elnura Zhalieva, Moayad Aloqaily, Mohsen Guizani
• Abstract summary: The increase in renewable energy on the consumer side gives place to new dynamics in the energy grids. In such a scenario, the nature of distributed renewable energy generators and energy consumption increases the complexity of defining fair prices for buying and selling energy. We introduce a reinforcement learning framework to help solve this issue by training an agent to set the prices that maximize the profit of all components in the microgrid.
• Score: 36.244907785240876
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: The increase in renewable energy on the consumer side gives place to new dynamics in the energy grids. Participants in a microgrid can produce energy and trade it with their peers (peer-to-peer) with the permission of the energy provider. In such a scenario, the stochastic nature of distributed renewable energy generators and energy consumption increases the complexity of defining fair prices for buying and selling energy. In this study, we introduce a reinforcement learning framework to help solve this issue by training an agent to set the prices that maximize the profit of all components in the microgrid, aiming to facilitate the implementation of P2P grids in real-life scenarios. The microgrid considers consumers, prosumers, the service provider, and a community battery. Experimental results on the \textit{Pymgrid} dataset show a successful approach to price optimization for all components in the microgrid. The proposed framework ensures flexibility to account for the interest of these components, as well as the ratio of consumers and prosumers in the microgrid. The results also examine the effect of changing the capacity of the community battery on the profit of the system. The implementation code is available \href{https://github.com/Artifitialleap-MBZUAI/rl-p2p-price-prediction}{here}.

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