Modeling an Optimal Peer-to-Peer Energy Sharing Between Prosumers in a South African Context

In this paper, an optimal energy management model in a Peer-to-Peer energy sharing scheme is developed and simulated in the south African context. The aim of the developed model is to assess the energy cost saving that can be realized if the energy not used by one prosumer can be shared in a Peer-to-Peer scheme. Therefore, a model to minimize the reliance from the grid while optimizing the power flow between the generation, loads as well as storage of prosumers is developed. Using prosumers in the South African electricity pricing as well as grid operation restriction; the simulation results show that using the developed model to optimally manage the power flow in the proposed Peer-to-Peer energy sharing scheme can substantially reduce the prosumers' operation cost by maximizing the use of the local renewable energy produced and the storage management while minimizing the reliance on the grid.