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: Paperback / softback
Length: 318 pages
Publication date: 20 March 2023
Publisher: Springer Verlag, Singapore

This book aims to integrate the emerging successful business model, known as the sharing economy, into energy markets, thereby exploring its potential merits 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 significant challenge lies in 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 the energy fields, summarizing two energy market-related issues that it can potentially address. The first issue concerns quantifying the contribution of marginal generators and eliciting truthful bidding under information asymmetry conditions. The second issue revolves around distinguishing the contribution of renewable and distributed energy resources and incentivizing efficient aggregation considering the increasing scale and uncertainty.

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. Additionally, the benefits brought by the sharing economy are evaluated in terms of regional market bidding and transmission expansion deferral. Furthermore, the information and communications technologies related to the sharing economy are modeled and analyzed.

The authors hope that this book will greatly benefit readers interested in energy economics and engineering, providing valuable insights and perspectives on the integration of the sharing economy into the energy sector.

Weight: 510g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811676475
Edition number: 1st ed. 2022