Sharing Economy in Energy Markets: Modeling, Analysis and Mechanism Design

This book explores the potential of the sharing economy in the energy sector, focusing on issues such as quantifying marginal generators' contributions, distinguishing renewable and distributed energy resources, and incentivizing efficient aggregation. It proposes sharing economy mechanisms and designs them from a game theory perspective, investigating specific problems in spot markets, multi-area markets, renewable energy aggregation, and energy systems integration. The benefits of the sharing economy are evaluated in terms of regional market bidding and transmission expansion deferral.

Format: Hardback
Length: 318 pages
Publication date: 19 March 2022
Publisher: Springer Verlag, Singapore

This book aims to integrate an emerging and successful business model, known as the sharing economy, into energy markets, in order to explore its potential benefits and applications across various energy sectors. The core concept of the sharing economy revolves around the idea of "access over ownership," enabling collaborative consumption of idle resources through advanced information and communications technology.

One of the critical challenges faced by the sharing economy in the energy sector is identifying the occupation of different market participants and designing pricing mechanisms accordingly. This book begins by providing an overview of the recent development of the sharing economy in energy fields, highlighting two energy market-related issues that it can potentially address.

The first issue concerns quantifying the contribution of marginal generators in energy markets under information asymmetry conditions. This involves developing accurate methods to measure and value the marginal benefits of additional generation, ensuring truthful bidding and efficient resource allocation.

The second issue revolves around distinguishing the contribution of renewable and distributed energy resources in energy systems, particularly in the context of increasing scale and uncertainty. This involves developing mechanisms to incentivize efficient aggregation and optimize the utilization of these resources.

To address these challenges, sharing economy mechanisms are proposed and designed from a game theory perspective. The subsequent chapters delve into the specific problems encountered in spot markets, multi-area markets, renewable energy aggregation, and energy systems integration. These chapters explore the application of sharing economy principles to address various challenges in the energy sector, such as price volatility, resource scarcity, and grid stability.

Furthermore, the book evaluates the benefits brought by the sharing economy in terms of regional market bidding and transmission expansion deferral. It examines how the sharing economy can facilitate the integration of renewable energy sources, improve resource utilization, and enhance grid resilience.

Additionally, the book models and analyzes the information and communications technologies (ICTs) related to the sharing economy. It explores the role of digital platforms, smart grids, and Internet of Things (IoT) in enabling the sharing of energy resources and fostering collaboration among market participants.

The ultimate goal of this book is to provide valuable insights and guidance to readers interested in energy economics and engineering. It aims to facilitate the integration of the sharing economy into energy markets, unlocking the potential for sustainable and efficient energy systems. By exploring the merits and applications of the sharing economy in the energy sector, this book aims to contribute to the development of a more resilient and sustainable energy future.

Weight: 664g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811676444
Edition number: 1st ed. 2022