The role of local energy markets in low voltage networks: community-based approaches

Rising adoption of distributed energy resources (DER) is bringing about significant transformations and challenges in future power systems. The main objective of a system operator is to optimize demand-side energy trading while reducing reliance on energy imports from the main grid. To address this, a trustworthy local energy market (LEM) trading system is suggested in this research, enabling consumers and prosumers to efficiently trade their own produced energy within a community-based market (CBM) structure, thereby achieving optimal energy balance. The primary aim of the suggested framework is to achieve cost reduction through equitable distribution of resources. Additionally, the model examines the Japan Electric Power Exchange market in Tokyo. Lastly, an assessment has been conducted on how the proposed markets affect low-voltage networks.