Defining characteristics of peer-to-peer energy trading, transactive energy, and community self-consumption: A review of literature and expert perspectives.

To facilitate a successful integration of distributed energy resources into the electricity generation mix, new forms of energy markets must be considered. Concepts such as Peer-to-peer energy trading (P2P), transactive energy (TE) and community/collective self-consumption (CSC) are frequently mentioned as solutions to this challenge. Despite increasing interest from industry, policy, and academia, the field lacks a shared understanding of this class of models. This need is addressed by presenting sets of shared and distinct characteristics which define P2P, TE and CSC. Our analysis is based on a series of expert group interviews with regulators, industry, and academics across 13 countries, and a systematic and targeted literature review of 133 papers. Findings show that P2P/TE/CSC models can be described as sub-markets that operate within or alongside traditional energy markets and enable trading or sharing of energy using an automated approach. They focus on promoting and supporting local energy generation and consumption using price negotiation mechanisms that reflect the aims of the market. The paper also presents sets of characteristics which differentiate P2P, TE, and CSC from one another and sets out guiding definitions to be used as a reference point. The main differences between these models stem from the goal they are trying to achieve and the contexts they are deployed in. Findings from this analysis can support development of a shared understanding of this class of models across multiple disciplinary perspectives and applications. • Decentralised energy trading models lack a unified definition. • Expert interviews and literature review identify defining characteristics. • Decentralised models can operate as sub-markets alongside traditional markets. • Distinctions between models stem from their goal and the contexts they are deployed in. [ABSTRACT FROM AUTHOR]