Project Summary
This project is to develop a P2P energy trading App, allowing electric vehicles (EVs) which have surplus battery energy to trade with nearby EVs in public car parks.
Project Achievements
At the Energy and Power group of Cranfield University, we used a T-TRIG grant to develop a P2P energy trading platform enabling EV energy trading. A double auction mechanism is used to calculate trading prices between EV energy buyers and sellers. The mechanism incorporates EV drivers’ individual preferences and resource characteristics, allowing mutually beneficial energy transactions to be negotiated, at the same time providing drivers with security, privacy and freedom of negotiations. A P2P EV charging Smartphone App was developed. The functions of the app include interfaces allowing EV energy sellers and buyers to provide information – e.g. where, when, kWh and prices to trade with each other – and a platform to settle the midmarket prices between buyers and sellers.
Conclusions
Cranfield Energy and Power Group have had good success in adapting existing techniques to develop the trading platform, realising the platform in a Smartphone App and demonstrating the economic viability of the concept. The Group is seeking further funding.
A number of key stakeholders have shown strong interest including Power Transition Ltd. Cranfield University have encouraged Power Transition Ltd to bid into the Innovate UK 2020 Sustainable Innovation Fund (SBRI) phase 1 funding call to develop a demonstration project of P2P EV charging at a solar car park. This project was not selected by the funder, but we will develop further opportunities to best use the findings and outcomes from T-TRIG funding work.
