Abstract
With an increase in the electrification of end-use sectors, various resources on the demand side provide great flexibility potential for system operation, which also leads to problems such as the strong randomness of power consumption behavior, the low utilization rate of flexible resources, and difficulties in cost recovery. With the core idea of “access over ownership”, the concept of the sharing economy has gained substantial popularity in the local energy market in recent years. Thus, we provide an overview of the potential market design for the sharing economy in local energy markets (LEMs) and conduct a detailed review of research related to local energy sharing, enabling technologies, and potential practices. This paper can provide a useful reference and insights for the activation of demand-side flexibility potential. Hopefully, this paper can also provide novel insights into the development and further integration of the sharing economy in LEMs.
TO cope with a series of social and environmental problems such as environmental pollution and the greenhouse effect caused by the increasing consumption of fossil energy, the world is currently undergoing a major energy transformation, which is also leading to profound changes in the production, structure, and consumption mode of the energy system [
The integration of a high proportion of renewable energy poses new challenges to the flexible operation of power systems. However, in sharp contrast to the current rapid development of variable renewable energy, the flexibility construction of China’s power system is still insufficient [
In recent years, the emerging sharing economy has provided a new paradigm for solving such problems. With the core idea of “access over ownership”, energy sharing, which allows users to trade directly and form a reasonable shared market price through competition, is expected to achieve the effect of matching supply and demand nearby [
The concept and business model of the sharing economy will bring new challenges and opportunities for LEMs [
To provide an overview of existing research on the local sharing economy, a bibliometric analysis was conducted on July 1, 2022 using a well-established and acknowledged database, Web of Science (WoS). The query for WoS was as follows: TS=((sharing economy OR energy sharing) AND (local energy market OR peer to peer (P2P) OR transactive energy)). The number of publications since 2005 retrieved from WoS is shown in
Fig. 1 Number of publications since 2005 retrieved from WoS.
Here, we also conduct a brief review of several review articles related to local energy sharing. In [
Digital platforms are the key characteristic of the sharing economy. They provide accurate real-time measurement of surplus capacity and enable the connection between potential users of an asset and owners. Reference [
The aforementioned review papers provide useful insights into the sharing economy in energy sectors from a special aspect, and it has been widely stated that the sharing economy promotes sustainable consumption. We can also observe that different expressions for local energy sharing are adopted such as transactive energy, P2P trading, prosumer market, etc. Actually, the expression of the above differences belongs to the scope of local energy sharing. The reason behind the diversity of expression lies in the different emphasis of different studies. In addition, with the further increase in the electrification of end-use sectors, the application of the sharing economy in LEMs is still an emerging research field. This paper attempts to provide a systematic review of current research and identify the contributions that energy sharing can make to future sustainable development. The topics discussed in this paper and the existing review papers related to local energy sharing are compared in Table I.
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The concept of the sharing economy has been integrated into the rapidly ongoing energy market transformation and advocated as a promising solution to facilitating the accommodation of renewable energy.
However, few studies have summarized the applications and enabling technologies of the sharing economy in LEMs. Thus, this paper attempts to provide a systematic review of current research and identify the contributions that local energy sharing can make to future sustainable development. The contributions of this paper are as follows.
1) The correlation between the sharing economy and LEMs is analyzed, and the framework and key elements of the sharing economy in LEMs, i.e., individual elements, resource elements, technological elements, and environmental elements, are proposed.
2) A comprehensive literature review of current research on the mechanism design of local energy sharing is provided, and the enabling technologies for local energy sharing are discussed to identify the challenges of sharing economy application in the future market.
3) From the “energy ” perspective, we elaborate on the further application of the sharing economy in energy fields such as data transactions, decarbonization, and new infrastructure construction in the energy sector.
The remainder of the paper is organized as follows. Section II presents the concept of the sharing economy in LEMs. Section III reviews current research on energy sharing mechanism design. Section IV presents enabling technologies and business models for local energy sharing, and Section V provides a discussion and the open research topics for local energy sharing. Section VI draws the conclusions.
The sharing economy has been developing rapidly in recent years. It reshapes conventional business models that have a clear distinction between companies and customers by directly connecting products with consumers. In the traditional economy, consumers own too many things that they do not need or do not use frequently, leading to an enormous waste of resources. For example, according to the Wall Street Journal, Americans spend over $1.2 trillion annually on nonessential goods. Therefore, there are a growing number of people who are attracted to the sharing economy for personal, economic, and environmental reasons.
The concept of the sharing economy originated from collaborative consumption theory jointly proposed by Marcus Felson and Joe L. Spaeth in 1978. This theory describes a new way of life consumption, i.e., multiple individuals consume economic goods or services together in joint actions [
At present, the definition of the sharing economy is still controversial in academia, but scholars have basically reached a consensus on some aspects. First, the sharing economy is a new development form of the modern economy. Many problems in economic development have been difficult to solve for a long time, mainly due to the influence of profit-seeking and information asymmetry. The emergence of the sharing economy has greatly changed the reality of information asymmetry and is an innovation in the economic field. Second, the sharing economy is the optimal solution to resource allocation. Driven by Internet trading platforms, massive, scattered, and diversified resources and demand information can be integrated, enabling quick matching between supply and demand. Third, the sharing economy is a concept of sustainable consumption and development. The sharing economy advocates the reuse of items, conforming to the concept of “heavy use, light possession”. The sharing economy has affected many businesses including hospitality, transportation (cars, bikes, boats, etc.), babysitting, home/garden tool businesses, and the financial sector. These successful cases provide important value for the application of the sharing economy in the energy sector.
For the sake of simplicity and clarity, this paper summarizes the sharing economy as a business model in which a user shares individual idle resources with others and is paid, with others being able to take advantage of the shared resources to improve social welfare. Actually, LEM can be considered as a kind of practical application of sharing economy in the energy sector, which is referred to local energy sharing.
The following four elements, i.e., individual, resource, technological, and environmental elements of the sharing economy itself have been given specific meanings in local energy sharing, which is also the correlation between the sharing economy and LEMs.
1) Individual elements: individual elements mainly include the energy supply side and demand side involved in local energy sharing. The supply side wants to share its idle resources, while the demand side wants to obtain the right to use energy or resources at a lower cost. In practice, the roles of buyers and sellers will change at any time in the process of local energy sharing; in other words, individuals are both the starting point and the ending point.
2) Resource elements: there are distributed energy resources (DERs) in the LEM. Making full use of these idle resources can help overcome the reliability, flexibility, and sustainability challenges of energy systems. On the other hand, the potential complementarity of different resource and energy combinations also lays the foundation for the sharing economy. The application of the sharing economy in LEMs can effectively promote the collaborative consumption of idle resources and improve energy efficiency.
3) Technological elements: the application of the sharing economy in LEMs requires the support of key technologies, and the innovative development of relevant technologies is of great significance for the deep integration of the sharing economy and energy market in the future. The main enabling technologies of the sharing economy in energy markets include energy conversion technology, blockchain technology, and communication-related technology. For example, the development of energy conversion technologies such as power-to-heat (P2H) and power-to-gas (P2G), has brought more joint production and consumption and has expanded the scope and diversity of market participants in local energy sharing.
4) Environmental elements: the environmental elements of local energy sharing mainly refer to policies and social culture, among which policies refer to the support of relevant energy policies, laws, and regulations for local energy sharing, while social culture refers to a common understanding formed by different market members through long-term accumulation and evolution such as the energy consumption outlook and values. The in-depth application of the sharing economy in LEMs requires not only support at the policy level but also improvement in the general acceptance of energy sharing in society.
In practice, from the perspective of specific industrial energy sharing projects, individual and resource elements mainly refer to the main participants and matching methods of the sharing economy, which also indicates the complementary potential of different prosumers in local energy sharing. While the technological elements and environmental elements refer to specific enabling technology, e.g., blockchain and edge computing technology, and support policy for local energy sharing.
It is believed that the sharing economy based decentralized structure for LEMs will replace the traditional hierarchical structure in the future. A well-designed market mechanism should at least satisfy the conditions of individual rationality, incentive compatibility and budget balance and ultimately realize the maximization of social welfare. In LEMs, a well-designed incentive mechanism is needed to effectively stimulate true generator set quotes, promote the active response of distributed energy sources, and comprehensively promote the healthy development of the energy market.
The core of the application of the sharing economy in LEMs is the sharing of idle resources among different market entities. Based on the above elements of energy sharing and the related roles between them, the key elements of sharing economy in LEMs can be specifically expressed as a tri-level framework, as shown in
Fig. 2 Key elements of sharing economy in LEMs.
1) The bottom level is related to the above individual/resource elements, mainly dynamic matching of idle resources including the analysis of the complementary characteristics of different entities and collaborative optimization operations. In general, the sharing entities in LEMs mainly include residential users, distributed resources of different energy types, distributed energy storage, and other flexible resources. Actually, the individual and resource elements in local energy sharing provide the foundation of mechanism design.
2) The middle level is related to the technological elements. The application of the sharing economy requires the support of key technologies, and the innovative development of relevant technologies is of great significance for the deep integration of the sharing economy and LEM. In this paper, energy conversion technology, blockchain technology, and communication-related technology are discussed as the main enabling technologies for local energy sharing.
3) The top level refers to the environmental elements, which is related to the current policy and other external elements such as social culture. In practice, further development in the energy system and the process of decarbonization will create new opportunities and challenges from the perspective of “energy ”, e.g., energy , energy , and energy infrastructure.
In this paper, the research contents corresponding to the above tri-level framework will be further discussed in Sections III, IV, and V, respectively.
In general, a well-designed local energy sharing mechanism is supposed to stratify the following principles: ① the dynamic spatial matching of energy demand and supply can be achieved; ② the mechanism can achieve fairly distribution of social welfare in local energy sharing; and ③ the mechanism is easily implemented and understood with various participants [
In LEMs, multiple market members can form an alliance, and the aggregator is responsible for the energy management of each market member in the alliance and determines a reasonable cooperative surplus profit-sharing mechanism. A local energy sharing model with general aggregator based on Nash bargaining theory can be formulated as follows:
| (1) |
| (2) |
| (3) |
| (4) |
where X and are decision variables that represent the operation and settlement results of local energy sharing, respectively; and are the feasible regions of market members and the aggregation, respectively; and are the operation costs of market members before and after energy sharing, respectively; and are the expected revenues of the aggregator before and after energy sharing, respectively; and is the market power of market member i () in Nash bargaining.
The core of the above local energy sharing is how to identify the contributions of different market members in the cooperation and to design the corresponding profit-sharing mechanism to ensure the stability of the alliance. In [
The above studies are inspiring and provide a solid technical foundation for profit-sharing mechanism design in local energy sharing. However, in aggregator-based local energy sharing, market participants are supposed to disclose their energy information to aggregators for information asymmetry elimination, which may also lead to possible privacy problems [
In general, an energy sharing mechanism based on a cooperative game can maximize the overall welfare of participants, but for complex systems, especially considering information asymmetry and user privacy protection, how to design an effective redistribution scheme urgently needs to be solved.
With the gradual expansion of the scope of energy sharing and the increase in market participants, aggregator-based local energy sharing will face many limitations. Therefore, many studies have focused on the platform-based energy sharing model. That is, the LEM members can submit declaration information based on their idle resource characteristics through platform-organized transactions, and idle resources can be shared among different market members. In theory, platform-based local energy sharing can be understood as a tri-level framework, as shown in
Fig. 3 Tri-level framework of platform-based local energy sharing.
The top level represents the platform trading scheme design, which aims to promote energy sharing on the demand side through reasonable platform transaction mechanism design such as transaction variety design and the pricing mechanism. The middle level represents the energy decision-making process, where market participants submit application information to the platform based on the corresponding platform design and their own resource combination. The bottom level represents the market clearing, and the platform operator determines the transaction result of the energy sharing declaration based on all the declaration information of market members. In practice, such energy sharing can also be understood as an iterative optimization process of platform design. The top-level platform designer will adjust the platform trading and pricing mechanism based on the energy sharing situation to promote sharing in the LEM as much as possible. Actually, the framework shown in
As mentioned above, the core of the platform-based local energy sharing is to make trade-offs between the interests of different energy sharing participants, i.e., how to design effective profit-sharing mechanism for cooperation surplus according to the actual contribution of each participant. It is considered that the network constraints in the local energy system affect the feasibility of energy sharing among market members in different locations without changing the nature of mechanism design. As a result of this, some studies focus more on the design of trading mechanisms and the evaluation of energy sharing benefits, and the network constraints are ignored [
With the further integration of various DERs at the distribution level, some studies have also focused on a network-aware pricing mechanism for local energy sharing to guide market members to share their idle resources. In essence, the network on which the energy system depends also provides a natural platform for the application of the sharing economy. Distribution locational marginal pricing (DLMP) can be an effective solution to reflecting the spatial value difference of DERs in different locations. Since line losses can be substantial in distribution networks with lower voltages, the core of DLMP is to reflect the contribution of different distributed energy resources to line losses, which may shed light on the local energy sharing between participants in different locations [
With the deepening integration of the sharing economy and the LEM, there will be competition from multiple platforms, and such competition appeared in other sharing fields such as transportation and housing. In [
The application of the sharing economy requires the support of key technologies, and the innovative development of relevant technologies is of great significance for the deep integration of the sharing economy and energy market in the future. The main enabling technologies of the sharing economy in energy markets, including energy conversion technology, blockchain technology, and communication-related technology, are summarized in this section. Actually, different enabling technologies correspond to different local energy sharing processes, which are presented in
Fig. 4 Relation between different enabling technologies and different local energy sharing processes in local energy sharing.
An efficient and highly liquid multi-energy market coupling transaction is the mechanism basis for the multi-energy system to realize energy sharing, and energy conversion technology is the necessary condition for the multi-energy system to realize energy sharing. In recent years, the development of energy conversion technology, e.g., P2H and P2G, has expanded the scope of energy sharing as well as the diversity of market participants in the sharing economy [
In terms of energy conversion in the natural gas-electricity coupling system, the emergence of P2G technology has changed the coupling between electricity and natural gas systems from traditional one-way conversion through natural gas generators to two-way conversion. P2G technology is advocated as an appealing way to provide additional flexibility and facilitate energy sharing in the natural gas-electricity coupling system. Recently, P2G has received increasing attention and developed rapidly due to cost reduction, improved P2G efficiency, and increased penetration of renewable energy and hydrogen consumption [
P2G technology mainly includes two categories. The first one is power-to-hydrogen technology, which uses a water electrolysis system to split water into oxygen and hydrogen. Currently, the two main commercially available water electrolysis technologies are proton exchange membrane electrolysis cells (PEMECs) and alkaline electrolysis cells (AECs). The second one is power-to-methane technology, in which water is first decomposed into oxygen and hydrogen through an electrolytic reaction, and then hydrogen and carbon dioxide are combined to form methane [
For the integrated heat and power system, although the traditional combined heat and power unit can establish the connection between the electric heating systems, it is limited by its technical characteristics, and the operation flexibility is low. With the gradual maturity of energy conversion technologies such as electric boilers and heat pumps, their application in cogeneration units helps to weaken the thermoelectric coupling characteristics and reduce the mutual restriction of energy supply in heat and power systems, which has shown good characteristics in practice in some countries [
In general, energy conversion technology enables the closed-loop flow of energy between different energy systems, which fundamentally expands the scope of energy sharing and the diversity of users involved in energy sharing. With the help of energy conversion technology, the mutual conversion of different energy sources on the supply side also enables users to choose different forms of energy to achieve the same goal. This kind of multi-energy complementarity on the supply side fundamentally strengthens the integration of the sharing economy in the energy market.
A blockchain network is a point-to-point network. The entire network has no centralized hardware or management organization, nor does it have a central server or a central router. Each node in the network has equal status and can act as a client and a server at the same time. In a blockchain system, each node saves all the data in the entire blockchain. Therefore, the data of each node are jointly owned, managed, and supervised by all participants. The blockchain uses a decentralized collaboration mechanism to track and analyze the behavior of participants through credit, evidence, and transaction records to ensure that all transactions and data are credible [
Notably, the potential application areas of blockchain include the energy sharing mechanism. It can promote the coordination of multiple forms of energy and the participating entities, promote the further integration of information and physical systems, and realize the diversification and low cost of transactions [
Before blockchain technology is widely used in various application scenarios, including the energy sharing industry, there are still a series of problems that urgently need to be solved. ① The scope of application of existing theories and projects is still limited to a small community. How to realize regional-level energy sharing transactions is the primary issue that should be considered in current technology development and application research. ② The online local energy sharing system may be subject to numerous network attacks during the development and application process. How to effectively prevent data from being tampered with from the branch network and from the source and ensure the authenticity of data with the support of blockchain technology is an important task of application research. ③ Although blockchain technology can provide effective support for P2P trading, effective local energy sharing still needs to rely on reliable market supervision. Market participants will lack a sense of security and their enthusiasm for participation will be reduced without reliable market supervision. This is also the key to further deepening the application of blockchain in local energy sharing.
The promotion of the energy sharing mechanism needs to realize the information interconnection between devices at the distribution network level. The increasing number of DERs on the user side places a high demand on the capacity of the communication system [
With the enhancement of the coupling of the power grid information physical system, the construction of large-scale communication base stations (BSs) has become the development trend of the future. From the perspective of energy consumption, the power consumption of communication BSs accounts for approximately 70%-80% of the power consumption of communication system according to statistics [
BSs are the main intermediary between the communication network and the power network. The communication network is an important transfer point of wireless information transmission. A power network is the main communication device that consumes electricity. There is a coupling of energy and information between the communication system and the power system. On the one hand, the communication network requires an energy supply from the distribution network. The operation strategy of the communication system may change the power flows in distribution lines. On the other hand, communication systems effectively guarantee the precise control of power networks. However, the interference and noise between different BSs may lead to bit errors, resulting in the failure of energy sharing transactions. To illustrate the interaction mechanism, a tri-layer framework is proposed in [
Although the application of the sharing economy in the energy sector has attracted extensive attention from both academia and industry, further development in the energy system and the process of decarbonization will create new opportunities and challenges. In this section, we discuss the key challenges in mechanism design in local energy sharing. Besides, several open research issues related to local energy sharing are highlighted, i.e., energy , energy , and energy infrastructure from the “energy ” perspective.
The application and development of information processing technologies such as big data and artificial intelligence provide a broader space for the construction of new power systems. Data have become an important asset in local energy sharing, which are also regarded as the key driving force for the upgrading of inherent assets and the development of emerging businesses. Most existing studies assume a symmetric information environment in local energy sharing mechanism design. The core of these studies is how to reveal the real needs of different participants through effective mechanism design, promote the sharing of idle resources, and activate the flexibility potential of the system. In the process of local energy sharing, the information among different participants is symmetrical, i.e., only their own information is known by each participant or all information is shared; but in fact, information symmetry is more common in practice, which is actually one of the important ways to reflect the value of data as an asset in local energy sharing.
With the improvement of digital programs in the energy field, the energy big data center will become the hub of data sharing and exchange in the future. In view of the “dual carbon” target and the trend of the clean and low-carbon transformation of energy systems, energy big data center is supposed to play an important role in giving full play to the value of energy big data, supporting the modernization of government governance, promoting the energy transformation, and helping the high-quality development of the energy industry.
Energy big data centers can widely interconnect various energy entities such as oil, water, gas, and electricity on a larger scale and promote the cross-border integration, sharing and application of various energy data. First, they promote the convergence of energy data. Driven by the government, energy big data centers will gradually gather all kinds of energy data, make energy data visible and accessible, promote the transformation from “business data” to “data business”, and stimulate the vitality of data decision-making and data innovation. Second, they promote energy data sharing [
Fig. 5 Information privacy framework based on data encryption.
Currently, the existing studies related to local energy sharing mainly focus on the electric power sector. Actually, with the help of energy conversion technology and energy market construction, efficient local energy sharing can accelerate the integration of oil, coal, natural gas, electricity, and other energy resources and promote sustainable energy development and facilitate the decarbonization of the energy system. It is inevitable to investigate local energy sharing in multi-energy sector, which can contribute to realize the efficient dynamic matching, collaborative management, interactive response, and mutual assistance between different energy subsystems, and effectively improve the energy efficiency while meeting diversified energy consumptions.
In practice, local energy sharing is able to build an integrated innovation platform through data technology and energy technology, and directly supports the intelligent energy supply and personalized energy consumption. Besides, local energy sharing can analyze the characteristics of energy consumption, characteristics of carbon emission, and trends of different market members, provide more “dual carbon” data innovative products, and help environmental governance, the docking of carbon emission supply and demand, and the improvement in the energy efficiency of key enterprises.
Overall, local energy sharing is widely connected with multiple entities in the upstream and downstream of the energy industry chain, radiating many industries, promoting the construction of an energy internet ecosystem, and stimulating the value creation vitality of the energy industry. Local energy sharing can meet the personalized and diversified energy needs of users, improve the efficiency of terminal power consumption, and accelerate the decarbonization process of the energy system by implementing user portraits and grasping the needs of different market entities.
The existing work in local energy sharing mostly focuses on how to reduce the operating costs of market participants or the overall system through the matching of supply and demand of idle resources, especially with the support of different interactive energy facilities such as distributed energy, user-side energy storage, and electric vehicles. With the development of energy digitalization, the new infrastructure is expected to provide a new way for the application of sharing economy in the LEM. Specifically, new infrastructure mainly includes seven fields: 5G BS construction, ultra high-voltage (UHV) projects, intercity high-speed railway and urban rail transit, new energy vehicle charging piles, big data centers, artificial intelligence, and the industrial Internet, involving many industrial chains. It is an infrastructure system that provides services such as digital transformation, intelligent upgrading, and integrated innovation.
With the help of new infrastructure, energy enterprises can absorb the scientific and technological power brought by the digital era, fully release the connection, integration, and shared value of the industrial internet, promote the transformation of industries while promoting the transformation of enterprises, and comply with the development pace of the new era. Energy enterprises rely on technology, management, and business model innovation to improve the level of refined operation and lean management, effectively carry out the long-term layout of integration with the digital economy and the real economy, and realize the mutual promotion of scientific and technological innovation and industrial upgrading.
Local energy sharing provides more “blue oceans” for future energy business. Just as 4G has promoted the development of the consumer internet and brought changes in retail, catering, travel, and other aspects, the 5G era will combine energy infrastructure with digital infrastructure, which will inevitably lead to more new businesses in the energy industry. For example, the “ communication BS” mode, which combines distributed photovoltaic with 5G and energy storage, can configure energy storage batteries through the communication BS network to form an enormous distributed energy storage system to realize the flexible allocation of peak and low power consumption stages. The intelligent microgrid-integrated storage and charging system based on the “ piles” can realize energy storage service, charging service, and electric vehicle detection service at the same time. Through a large number of data collection applications and resource integration and sharing, the “intelligence” of the energy system will be effectively improved.
Exploring an efficient local energy sharing paradigm is of great significance for coordinating multiple energies, improving energy efficiency, and accelerating the construction of a clean, low-carbon, safe, and efficient energy system. In this paper, we conduct a comprehensive review of the sharing economy in LEMs, and the key elements in mechanism design as well as enabling technologies for local energy sharing are analyzed. In addition, the further application of the sharing economy in energy fields such as data transactions, decarbonization, and the new infrastructure construction of the energy sector are elaborated from the “energy ” perspective.
The core of the application of the sharing economy in LEMs is the sharing of idle resources among different market entities, thus realizing the complementarity of heterogeneous individual energy supply and demand. The market-oriented development of energy and carbon trading will provide a new way for the efficient development of local energy sharing. The further integration of sharing economy and LEM need to rely on the support of multiple enabling technologies. The design of local energy sharing mechanism in the future should be developed in the direction of multiple energy entities, different information environments, and multi-value stream.
With the trend of re-electrification and the improvement of digitalization in the whole industry, which will provide massive application scenario for local energy sharing and also represent a new social form, we should further explore the optimization and integration role of the sharing economy in the allocation of social resources, deeply integrate the achievements of energy technology innovation into various fields, form a new form of energy industry development, and improve the innovation and productivity of the whole society.
Hopefully, this paper will provide readers with a useful reference and a clear vision for the further integration of the sharing economy in the energy sector.
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