  Recent trends express the impact of prosumers and small energy resources and
storages in distribution systems, due to the increasing uptake of renewable
resources. This research studies the effect of coordination of distributed
resources with the utility grid and the role of prosumers in the operation of
renewable microgrids. We formulated this problem as a social welfare
maximization problem followed by employing the dual decomposition method to
decompose it into sub-problems of the microgrid, distributed generators,
prosumers, and consumers. Moreover, the corresponding power balance mechanism
via price adjustment can be viewed as a Walrasian tatonnement process.
Specifically, prosumers and consumers compete to adjust their energy exchange
with other agents to maximize their profit gained by renewable emission
reduction benefits while minimizing the associated cost of energy. To this end,
we have adopted a peer-to-peer energy trading mechanism based on continuous
double auction that can be viewed as a multi-parametric quadratic problem.
Finally, we proposed a distributed adaptive algorithm that determines
strategies as well as payment and assignment rules. The numerical result
suggests that the proposed method can incentivize peer-to-peer energy trading
while improving the cost fairness problem and the peak-to-average ratio.
