Peer-to-peer (P2P) energy trading is a promising energy trading mechanism due to the deployment of distributed energy resources in recent years. Trading energy between prosumers and consumers in the local energy market is undergoing massive research and development, paying significant attention to the business model of the energy market. In this paper, an extensive review was conducted on the current research in P2P energy trading to understand the business layer of the energy market concerning business model dimensions: bidding strategies and the market-clearing approach. Different types of game theoretical-based and auction-based market-clearing mechanisms are investigated, including a detailed classification of auctions. This study considers the possibility of employing the P2P technique in developing countries and reviewing existing business models and trading policies. The business layer of the P2P structure plays a vital role in developing an effective trading mechanism based on interactive energy markets.

Renewable energy sources (RESs) are increasingly being recognized as sustainable and accessible alternatives for the energy future. However, their intermittent nature poses significant challenges to system reliability and stability, necessitating the integration of energy storage systems (ESSs) to ensure sustainability and dependability. This study examines various ESS alternatives, evaluating their suitability for different applications using a multi-criteria decision-making (MCDM) approach. The methodology accommodates diverse criteria types, including qualitative and quantitative factors, represented as linguistic terms, interval values, and crisp numerical data. A techno-socio-economic framework for ESS selection is proposed and applied to Jordan’s unique energy landscape. This framework integrates technical performance, economic feasibility, and social considerations to identify suitable ESS solutions aligned with the country’s renewable energy goals. The study ranks twelve energy storage systems (ESSs) based on key performance criteria. Pumped hydro storage (PHS), thermal energy storage (TES), supercapacitors (SCs), and lithium-ion batteries (Li-ion BESS) lead the ranking. These systems showed the best performance in terms of scalability, efficiency, and integration with grid-scale applications in Jordan. Key applications analyzed include renewable energy integration, grid stability, load shifting, peak load regulation, frequency regulation, and seasonal energy storage. Results indicate that Li-ion batteries are most suitable for renewable energy integration, while flywheels excel in grid stability and frequency regulation. PHS was found to be the preferred solution for load shifting, peak load regulation, and seasonal storage, with hydrogen storage emerging as a promising option for long-duration needs. These findings provide critical insights to guide policy and infrastructure planning, offering a robust model for comprehensive ESS assessment in energy transition planning for countries facing similar challenges.