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Peer-to-Peer energy trading, independence aspirations and financial benefits among Nigerian households

Adewole, Ayooluwa; Shipworth, Michelle; Lemaire, Xavier; Sanderson, Danielle; (2023) Peer-to-Peer energy trading, independence aspirations and financial benefits among Nigerian households. Energy Policy , 174 , Article 113442. 10.1016/j.enpol.2023.113442. Green open access

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Abstract

This paper demonstrates how preferences for energy trading are influenced by autarky aspirations and possible financial benefits from energy trading in the form of lower energy expenses and additional income. It presents findings from a survey on preferences for energy trading on a community-based platform within a residential estate setting. The survey included a choice experiment of hypothetical home choices with the possibility of energy trading on a peer-to-peer (P2P) energy trading platform. It also distinguished between preferences for buying and selling. Participants were 649 residents of housing estates in Ibadan, a Nigerian city. According to our logistic regression analysis, willingness to participate in energy trading was influenced by autarky aspirations and financial benefits. The financial benefits that interest respondents include gaining additional income from P2P energy trading and reducing overall power expenses. The autarky benefit that drives interest in P2P is “reduced reliance” on the grid for electricity. Real estate developers could therefore capitalise on consumers' high levels of interest in the benefits of homes with P2P energy trading capabilities. Nigerian energy policymakers should put in place structures that support P2P because P2P energy trading can unlock the additional value of solar PV for residential consumers.

Type: Article
Title: Peer-to-Peer energy trading, independence aspirations and financial benefits among Nigerian households
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.enpol.2023.113442
Publisher version: https://doi.org/10.1016/j.enpol.2023.113442
Language: English
Additional information: This work is licensed under a Creative Commons Attribution 4.0 International License. The images or other third-party material in this article are included in the Creative Commons license, unless indicated otherwise in the credit line; if the material is not included under the Creative Commons license, users will need to obtain permission from the license holder to reproduce the material. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/
Keywords: Autarky, Peer to Peer energy trading, Prosumer, Attitudes, Energy community
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning
URI: https://discovery.ucl.ac.uk/id/eprint/10164071
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