Review of business models for local Microgrid Markets and Simuluation of user behaviour tied to behavioural finance concepts
Nathan Luong
A literature review of various microgrid business models and an attempt to tie P2P prosumer behaviour to behavioural finance concepts
Monash University has established the cross faculty Microgrid Electrical Market Operator team, whose aim is to establish a leading Microgrid Operator which facilitates the transmission to 100% renewable power, by providing value to all stakeholders across the energy market.
MEMO wants to conduct a literature review of business models for local markets to find and organise business models and pricing mechanisms that have been proposed for local energy markets. Here we study and organise and evaluate various Microgrid business models proposed in literature and take a look at attempting to tie Peer to Peer energy trading activity to behavioural finance concepts.
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The aim of this group is to establish a leading Microgrid Operator which facilitates the transmission to 100% renewable power, by providing value to all stakeholders across the energy market.
MEMO wants to conduct a literature review of business models for local markets to find and organise business models and pricing mechanisms that have been proposed for local energy markets.
The MEMO literature review of the local market business models has several goals and can be split into the following phases:
• Conduct review of literature on various microgrid business models.
• Proposal/Study of own business model based on findings from literature review.
• Simulation of energy price behaviour and volatility based on said proposed model.