Jianxiao Wang & Haiwang Zhong 
Sharing Economy in Energy Markets 
Modeling, Analysis and Mechanism Design

This book aims to incorporate an emerging successful business model, i.e., sharing economy, into energy markets, thus digging out the potential merits and applications in multi-energy sectors. With the core idea “access over ownership”, sharing economy enables the collaborative consumption of idle resources through advanced information and communications technology. One critical challenge is to identify different market participants’ occupation while accordingly designing pricing mechanisms. This book begins with an overview about the recent development of sharing economy in energy fields, and summarizes two energy market-related issues that sharing economy can hopefully address. One is how to quantify a marginal generator’s contribution and thereby elicit truthful bidding under information asymmetry condition. The other is how to distinguish renewable and distributed energy resources’ contribution and thus incentivize efficient aggregation considering increasing scale and uncertainty. Then sharing economy mechanisms are proposed and designed from a game theory perspective. On this basis, the following chapters thoroughly investigate the specific problems in spot markets, multi-area markets, renewable energy aggregation and energy systems integration. Additionally, the benefits brought by sharing economy are evaluated in terms of regional market bidding and transmission expansion deferral. Finally, the information and communications technologies related to sharing economy are modeled and analyzed. Hopefully, this book can greatly benefit the readers who are interested in energy economics and engineering.

Table of Content

Introduction and Motivation.- Mechanism Design for Sharing Economy.- Sharing Economy in Spot Markets.- Sharing Economy in Multi-Area Electricity Markets.- Sharing Economy for Renewable Energy Aggregation.- Sharing Economy in Energy Systems Integration.- Sharing Demand Side Resources for Regional Market Bidding.- Sharing Non-Wire Alternatives for Transmission Expansion Deferral.- Information and Communications Technology for Sharing Economy.- Future Research on Sharing Economy.

About the author

Jianxiao Wang
Assistant Professor in School of Electrical and Electronic Engineering at North China Electric Power University
Project Manager in Ministry of Science and Technology of China
IEEE Member
Standing Director and Secretary of IEEE PES China Conference Committee
Standing Director of IEEE PES China Power Market Subcommittee
Associate Editor of IET Renewable Power Generation
Associate Editor of IET Energy Conversion and Economics
Guest Editor of IEEE Transactions on Industry Applications
Member of Youth Committee of China Electrotechnical Society
Member of Chinese Society for Electrical Engineering
Member of China Energy Research Society
Member of IEEE Smart Buildings, Loads and Customer Systems Committee
Member of IEEE Working Group on Io T Technologies for Distributed Resources in a Clean Energy System
Research interests: Electricity Market and Mechanism Design, Hydrogen Supply Chain, Energy Storage, Renewable-powered Smart Grid and Data Analytics.
Multi-Energy and Cyber Physical System Planning, Data Analytics for Smart Grid
 
Haiwang Zhong
Associate Professor in Department of Electrical Engineering at Tsinghua University
IEEE Senior Member
Editor of International Transactions on Electrical Energy Systems
Subject Editor of Journal of Modern Power System and Clean Energy
Editor of CSEE Journal of Power and Energy Systems
Co-Chair of IEEE Working Group on Demand Response
Secretary of IEEE Smart Buildings, Loads and Customer Systems Committee, Architecture Subcommittee
Secretary of CIGRE D2.53 Working Group on Technology and Application of Internet of Things in Power Systems
Research interests: Energy Internet, Smart Grid, Electricity Market, Power System Operations, Demand Response, Renewable Energy
 
Qing Xia
Professor in Department of Electrical Engineering at Tsinghua University
IEEE Senior Member
Senior Member of Chinese Society for Electrical Engineering
Director of Energy Internet Research Institute of Tsinghua University
Consulting Expert on Electric Power Industry Reform of National Development and Reform Commission
Consulting Expert on Energy Resource Planning of National Energy Administration
Director of China Energy Research Society
Director of Chinese Society for Electrical Engineering
Editor of Automation of Electric Power Systems
Research interests: Power Economics and Electricity market, Power System Load Forecasting, Power System Economic Operation, Generation & Transmission Expansion Planning, Optimization Application in Power Systems

Gengyin Li
Professor in School of Electrical and Electronic Engineering at North China Electric Power University
IEEE Member
Senior Member of Chinese Society for Electrical Engineering
Director of Beijing Energy and Power Information Security Engineering Technology Research Center
Research interests: Power System Analysis and Control, HVDC Transmission, Power Quality, Power System Economics and Emerging Transmission and Distribution Technologies

Ming Zhou
Professor in School of Electrical and Electronic Engineering at North China Electric Power University
IEEE Senior Member
Director of Power System Research Institute at North China Electric Power University
Research interests: Renewables Power System Planning and Operation, Power System Economics, Energy Storage