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Electricity market design for the prosumer era

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journal contribution
posted on 2023-06-09, 00:36 authored by Yael Parag, Benjamin SovacoolBenjamin Sovacool
Prosumers are agents that both consume and produce energy. With the growth in small and medium-sized agents using solar photovoltaic panels, smart meters, vehicle-to-grid electric automobiles, home batteries and other ‘smart’ devices, prosuming offers the potential for consumers and vehicle owners to re-evaluate their energy practices. As the number of prosumers increases, the electric utility sector of today is likely to undergo significant changes over the coming decades, offering possibilities for greening of the system, but also bringing many unknowns and risks that need to be identified and managed. To develop strategies for the future, policymakers and planners need knowledge of how prosumers could be integrated effectively and efficiently into competitive electricity markets. Here we identify and discuss three promising potential prosumer markets related to prosumer grid integration, peer-to-peer models and prosumer community groups. We also caution against optimism by laying out a series of caveats and complexities.

History

Publication status

  • Published

File Version

  • Accepted version

Journal

Nature Energy

ISSN

0001-4966

Publisher

Nature Publishing Group

Issue

16032

Volume

1

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2016-06-09

First Open Access (FOA) Date

2016-09-22

First Compliant Deposit (FCD) Date

2016-06-09

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