Browsing by Author "Tavares, Guilherme Fael de Oliveira"
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- Exploring market designs for local energy markets : core functionalities and value proposition in the context of blockchain, IoT and prosumersPublication . Tavares, Guilherme Fael de Oliveira; Bohnsack, RenéThis dissertation aimed to assess the impact of innovative smart market solutions and Blockchain technology on achieving efficient localized energy markets. Trends suggest the future of renewable energy generation will involve a move away from centralized power plants, and towards a large number of smaller generation units, such as PV cells. There are clear synergies between the market dynamics of photovoltaic systems and Blockchain-enabled smart markets, which can be harnessed towards integrating new consumption patterns and energy sources, as well as connecting consumers. Successful business strategy to integrate these technologies can lead to market leadership in this new industry. Captivating consumers is a key determinant of success, and offering lower electricity prices a necessary condition. For such offering to be feasible, markets need to be more efficient, as smart microgrids are proving to be. Consequently, there came the interest to see how new local electricity markets could be set up, while taking advantage of decentralization. A peer-to-peer, auction-based, local energy market was idealized and various simulations of were ran with differing levels of participants and structure, to understand the impact on the price of electricity achieved by the market. Market size and structure were both shown to affect price at different magnitudes, suggesting an ideal setup of 25-40 participants with generation capabilities over 60% of demand. Further analysis was undertaken to understand the impact of smart meters and Blockchain integration in such a market. Afterwards, conclusions were compiled and recommendations provided for how to approach new practical implementations.