Incentive mechanisms to enable fair renewable energy trade in smart grids

In this paper, we build up a renewable/green energy trading market for users in smart grids. Recently, more and more residential homes are equipped with solar panels to generate and consume renewable green solar energy. Unfortunately, there usually exists a mismatch between the supply and the demand of renewable energy for individual users. Thus, a market in which users can trade surplus green energy in order to serve their future demands is highly desired. In building up such a market, we need to guarantee fairness among non-cooperative users and provide an efficient incentive mechanism based on up-to-date battery and grid technologies. In this work, we propose a market model for trading green energy, design provable efficient incentive algorithms, and conduct experiments on real traces under various performance measures. We conclude that our scheme outperforms existing approaches in terms of fairness while it maintains the best-achievable green energy resource usage.