Symphony - Peer-To-Peer Renewable Energy Marketplace Model
Symphony project proposes a new peer-to-peer (P2P) renewable energy marketplace model and provides its software implementation to investigate the feasibility of such an approach.
IVAs 100-lista 2023
Recent research on climate change indicates the need to reduce the carbon footprint of energy production systems. The adoption of renewable energy sources (RES) aims to reduce the carbon footprint of fossil fuel usage.
Further, individuals can install RES in their homes and become electricity prosumers (producers/consumers). However, fossil fuel usage is still widespread, which requires the development of methods for RES promotion and dissemination. One of these methods is the P2P energy marketplace model, where prosumers can decide when and for what price to buy or sell electricity.
Ultimately, the marketplace aims to incentivize energy grid users to install RES. The financial profitability of energy trading promotes RES installation, consequently resulting in the energy distribution systems' decarbonization.
