Open Access

Sourabh Somwanshi

• The effects of climate change, including severe storms, heat waves, and melting glaciers, are highlighted as an urgent concern, emphasising the need to decrease carbon emissions to restrict global warming to 1.5°C. To accomplish this goal, it is vital to substitute fossil fuel-based power plants with renewable energy sources like solar, wind, hydro, and biofuels. Despite some progress being made,The effects of climate change, including severe storms, heat waves, and melting glaciers, are highlighted as an urgent concern, emphasising the need to decrease carbon emissions to restrict global warming to 1.5°C. To accomplish this goal, it is vital to substitute fossil fuel-based power plants with renewable energy sources like solar, wind, hydro, and biofuels. Despite some progress being made, the proportion of renewables used in generating electricity is still lower than the levels needed for 2030 and 2050. Decarbonising the power grid is also critical in lowering the energy consumption of buildings, which is responsible for a substantial percentage of worldwide electricity usage. Even though there has been substantial expansion in the worldwide renewable energy market in the past 15 years, the transition to renewable energy sources also requires taking into account the importance of energy trading. Peer-to-peer (P2P) electricity trading is an emerging type of energy exchange that can revolutionise the energy sector by providing a more decentralised and efficient way of trading energy. This research deals about P2P electricity trading in a carbon-neutral scenario. 'Python for Power System Analysis' (PyPSA) was used to develop models through which the P2P effect was tested. Data for the entire state of Baden-Württemberg (BW) was collected. Three scenarios were taken into consideration while developing models: 2019 (base), 2030 (coal phase-out), and 2040(climate neutral). Alongside this, another model with no P2P trading was developed to make a comparison. In addition, the use case of community storage in a P2P trading network is also presented. The research concludes that P2P has a significant positive effect on a pathway to achieve climate neutrality. The findings show that the share of renewables in electricity generation is increasing compared to conventional sources in BW, which can be traded to meet the demand. From the storage analysis, it can be concluded that community storage can be effectively utilised in P2P trading. While the emissions are reduced, the operating costs are also reduced when the grid has P2P trading available. By highlighting the benefits of P2P trading, this research contributed to the growing body of research on the effectiveness of P2P trading in an electricity network grid.…