Revolutionizing Local Energy Markets: Efficient Exchange Boosts Utility for All.
Local energy markets are being improved with a new type of auction that allows neighbors to trade energy more efficiently. Instead of using separate auctions for each time slot, this new method lets participants exchange energy for multiple time slots at once. By using flexible demand, like batteries, participants can benefit from this approach. The new combinatorial double auction system has been shown to increase the overall utility for everyone involved in the market.