Developing Peer-to-Peer (P2P) Energy Trading Model for Malaysia: A Review and Proposed Implementation

Yong Boon Heng; Vigna K. Ramachandaramurthy; Renuga Verayiah; Sara L. Walker

doi:10.1109/ACCESS.2022.3161577

Developing Peer-to-Peer (P2P) Energy Trading Model for Malaysia: A Review and Proposed Implementation

Yong Boon Heng^*, Vigna K. Ramachandaramurthy, Renuga Verayiah, Sara L. Walker

^*Corresponding author for this work

Chemical Engineering

Research output: Contribution to journal › Review article › peer-review

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Abstract

A decade ago, Malaysia introduced the Renewable Energy Act 2011. This led to the RE proliferation, especially with the adoption of solar photovoltaics as an alternative energy source for prosumers to generate green energy and reduce their energy costs. Since then, the RE policies have evolved with the introduction of feed-in tariff (FiT) and various version of Net Energy Metering (NEM) schemes. Such initiatives may not be holistic enough to benefit all stakeholders; thus, Malaysia introduced its first pilot P2P energy trading in 2019. However, there was no significant progress to the P2P pilot thereafter, with a Go-to-Market plan. As such, this review proposes a model for P2P energy trading for Malaysia based on several key success factors including the market design, trading mechanism, physical and virtual infrastructure, policy and governance and social. Malaysia's electricity market structure is also compared to South Korea, Germany, Thailand, United Kingdom, and Singapore (ranked in the top 20 Ease of Getting Electricity by World Bank in 2019) to understand the implication of P2P energy trading adoption. Apart from that, this paper also highlights the key technical and non-technical reviews of the P2P energy trading implementation.

Original language	English
Pages (from-to)	33183-33199
Number of pages	17
Journal	IEEE Access
Volume	10
Early online date	22 Mar 2022
DOIs	https://doi.org/10.1109/ACCESS.2022.3161577
Publication status	Published - 30 Mar 2022

Bibliographical note

Publisher Copyright:
© 2013 IEEE.

Keywords

Electricity market structure
energy trading
peer-to-peer
trading mechanism

ASJC Scopus subject areas

General Computer Science
General Materials Science
General Engineering

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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title = "Developing Peer-to-Peer (P2P) Energy Trading Model for Malaysia: A Review and Proposed Implementation",

abstract = "A decade ago, Malaysia introduced the Renewable Energy Act 2011. This led to the RE proliferation, especially with the adoption of solar photovoltaics as an alternative energy source for prosumers to generate green energy and reduce their energy costs. Since then, the RE policies have evolved with the introduction of feed-in tariff (FiT) and various version of Net Energy Metering (NEM) schemes. Such initiatives may not be holistic enough to benefit all stakeholders; thus, Malaysia introduced its first pilot P2P energy trading in 2019. However, there was no significant progress to the P2P pilot thereafter, with a Go-to-Market plan. As such, this review proposes a model for P2P energy trading for Malaysia based on several key success factors including the market design, trading mechanism, physical and virtual infrastructure, policy and governance and social. Malaysia's electricity market structure is also compared to South Korea, Germany, Thailand, United Kingdom, and Singapore (ranked in the top 20 Ease of Getting Electricity by World Bank in 2019) to understand the implication of P2P energy trading adoption. Apart from that, this paper also highlights the key technical and non-technical reviews of the P2P energy trading implementation.",

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AB - A decade ago, Malaysia introduced the Renewable Energy Act 2011. This led to the RE proliferation, especially with the adoption of solar photovoltaics as an alternative energy source for prosumers to generate green energy and reduce their energy costs. Since then, the RE policies have evolved with the introduction of feed-in tariff (FiT) and various version of Net Energy Metering (NEM) schemes. Such initiatives may not be holistic enough to benefit all stakeholders; thus, Malaysia introduced its first pilot P2P energy trading in 2019. However, there was no significant progress to the P2P pilot thereafter, with a Go-to-Market plan. As such, this review proposes a model for P2P energy trading for Malaysia based on several key success factors including the market design, trading mechanism, physical and virtual infrastructure, policy and governance and social. Malaysia's electricity market structure is also compared to South Korea, Germany, Thailand, United Kingdom, and Singapore (ranked in the top 20 Ease of Getting Electricity by World Bank in 2019) to understand the implication of P2P energy trading adoption. Apart from that, this paper also highlights the key technical and non-technical reviews of the P2P energy trading implementation.

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Developing Peer-to-Peer (P2P) Energy Trading Model for Malaysia: A Review and Proposed Implementation

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

UN SDGs

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