Peer-to-peer energy trading: A critical analysis of economic, social, and regulatory enablers

Energy systems must transition towards green and decentralized ecosystems. This means electrification. Peer-to-Peer Electricity Trading (P2P-ET) is emerging as a feasible solution, creating local energy markets that promote the adoption of small-scale renewable energy production and storage resources among end-users. Although P2P-ET provides multiple social, environmental, economic, and technical benefits, the real-world implementations have not fulfilled the apparent potential. This thorough survey therefore focuses on non-technical aspects and the barriers hindering widespread implementation are understood from an in-depth investigation of existing research and practices. The approaches are analyzed within the framework of our reference architecture and the various market structures. Consequently, our study contributes a multi-dimensional analysis of P2P-ET development through its interconnected economic, social, and regulatory enablers. The economic enablers for renewable remuneration are analyzed through business models that promote energy justice and market fairness within the context of energy communities. Expanding upon behavioral economics, the influential social enablers for the acceptance and adoption of P2P-ET are thoroughly explored alongside strategies for social value stacking and enhancing public awareness and involvement. The regulatory enablers are evaluated by aligning legislative guidelines to foster engagement and collaboration among various stakeholders, specifically prosumers, the market, and the power grid. Effective procedures are further outlined regarding each correlated enabler to support widespread P2P-ET implementations.