On April 26, 2019, Tohoku Electric Power and Toshiba Energy Systems & Solutions (Toshiba ESS) jointly announced that they had agreed to conduct research on peer-to-peer (P2P) energy trading between customers who are using distributed energy resources (DER). The study will assess the potential business model for P2P energy trading as well as the impact on electrical distribution systems. Toshiba ESS, a subsidiary of Toshiba Corporation, was founded in 2017 to develop technologies, such as Internet of Things (IoT) and Artificial Intelligence (AI) to improve energy systems and services.[1]
As the use of renewable energy and energy storage expands, it is predicted that in the future customers will be more likely to engage in P2P energy trading systems to trade the excess energy generated from their home. However, the utility’s business model for P2P energy trading is still uncertain. In addition, the impact of the increasing P2P energy trading on electrical power distribution systems is unknown. Tohoku Electric Power and Toshiba ESS began this joint research project in order to better understand and address these issues.
As part of the project, Tohoku Electric Power and Toshiba ESS will test the effectiveness of blockchain technologies, which will be utilized to record energy transactions. The project team will also build simulation models for P2P energy trading to optimize the distribution infrastructure and its operation. The project aims to develop potential business models to prepare for the expansion of P2P energy trading. The research will be carried out until the end of March 2020.[2]