Peer-to-Peer Energy Exchange
Project: May 2021
What was P2P Energy Exchange?
Peer-to-Peer Energy Exchange was a proof-of-concept project within the 2021 Hack from Home event, hosted by DataSwyft. Our goal was to investigate the feasibility - both business and engineering - of P2P energy trading between households, which can act as both producers and storage for energy.
Our concept assumed energy I/O control modules and a grid operator. The end consumer can choose to A) Buy from grid B) Store & sell excess C) Store & save excess. As such we modelled a real-life scenario using a year of historical irradiance data from NASA Power API, but fully simulated energy prices. Our software proof-of-concept managed the internal power distribution of the node, and with very little optimization is still able to significantly reduce costs, and increase eco-friendliness. The business feasibility of such an idea was investigated through our presentation.
Our project, P2P-EX was awarded the “Best Pitch” prize.
Business Case
A truly smart energy system which anticipates your needs and actions.
Peer-to-Peer Energy Exchange would adopt a dual approach, addressing both electrical pricing and manage household energy consumption. Expecting the adoption of ‘smart’ electronic devices with energy measurement and programming capabilities, our node aims to eventually coordinate household devices to optimize energy consumption. By automating functionality and optimizing for expected generation conditions, but also, expected needs, enables the P2P-EX Node to make ones household into an intelligent energy production & management unit.
Source Code
The source code of the project is fully available on GitHub, with adequate documentation. It is essentially a data-based simulation and action system which utilized a couple different very simple algorithms to manage production/storage based on a number of parameters.
Acknowledgements
Website Development & Pitch Deck by: @biomathcode
Technical Consulting & Code QA by: Taoheed Abdulraheem
Brand Identity Development by: Jan Lewis
Source code & Pitch Deck by: myself.