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• Agent-Based Model to emulate real-world performance of microgrid with P2P trading. • Holistic simulation of economic, technical, and ecological metrics. • Validation of Model with urban area of medium-sized German city. • Comparison of microgrid metrics before and during the European energy crisis. • Conclusions for research, practice, and energy policy. The shift towards renewable energy sources (RES) in energy systems is becoming increasingly important. Residential energy generation and storage assets, smart home energy management systems, and peer-to-peer (P2P) electricity trading in microgrids can help integrate and balance decentralized renewable electricity supply with an increasingly electrified power, heat, and transport demand, reducing costs and CO 2 emissions. However, these microgrids are difficult to model because they consist of autonomous and interacting entities, leading to emergent phenomena and a high degree of complexity. Agent-based modeling is an established technique to simulate the complexity of microgrids. However, the existing literature still lacks real-world implementation studies and, as a first step, models capable of validating the existing results with real-world data. To this end, we present an agent-based model and analyze the corresponding microgrid performance with real-world data. The model quantifies economic, technical, and environmental metrics to simulate microgrid performance holistically and, in line with state-of-the-art research, consists of self-interested, autonomous agents with specific load profiles, RES generation, and demand-response potential. The model can simulate a P2P marketplace where electricity is traded between agents. In the second part of the paper, we validate the model with data from a medium-sized German city. In this case study, we also compare microgrid performance in 2022, during the energy market crisis in Europe, with historical data from 2019 to assess the effects of energy market shocks. Our results show how microgrids with P2P trading can reduce electricity costs and CO 2 emissions. However, our trading mechanism illustrates that the benefits of energy-community trading are almost exclusively shared among prosumers, highlighting the need to consider distributional issues when implementing P2P trading. [ABSTRACT FROM AUTHOR]

Abstract: The paper analyses the issues for consideration listed in the stock taking document “New Energy Strategy for Europe 2011–2020” and explores the impact of their implementation on the use of renewable energy sources. The main objective of the paper is to introduce and provide a summary of the theoretical and methodological achievements required for an analysis of the implications of such an EU level strategy. It also provides a summary of the results of the analysis of the impacts of the Strategy on a specific field; namely, on the use of renewable energy sources. Contradictions inherent in the Strategy are discussed as well, and a proposal is put forward to aid the resolution of these contradictions. The paper also points out that the further development of the theoretical and methodological achievements may result in the creation of a simulation model, the application of which could effectively aid the process of strategic planning and the testing of strategies prior to approval. Finally, the paper discusses how an EU level and/or a global network of energy security centres could promote the development and implementation of an energy policy ensuring the appropriate utilization of renewable energy sources. [Copyright &y& Elsevier]