IDEAS home Printed from https://ideas.repec.org/a/eee/appene/v374y2024ics030626192401287x.html
   My bibliography  Save this article

Trading mechanism of distributed shared energy storage system considering voltage regulation

Author

Listed:
  • Meng, He
  • Jia, Hongjie
  • Xu, Tao
  • Sun, Jianhang
  • Wang, Rujing
  • Wang, Jie

Abstract

In order to address the current issues of high costs and underutilization of energy storage systems (ESSs) on the distribution grids, the distributed ESS (DESS) during idle time can be aggregated to provide shared energy storage services and voltage regulation services to gain additional revenue. In order to achieve this win-win situation for both shared energy storage operators (SESO) and users, a trading mechanism based on a master-slave game has been established in this paper. The SESO takes the lead, setting power and capacity prices, and the users make decisions on biddings for ESS capacity and charging/discharging strategies based on the SESO's pricing schemes, their own loading conditions, and photovoltaic output estimations. The SESO then clears the final transaction scheme based on users' biddings while considering the network fees, operational task allocations to various DESSs, the voltage regulation costs incurred by transactions and the benefits of DESS participating in voltage regulation to ensure the system's feasibility and the economy. Finally, the efficiency and scalability of the proposed mechanism and solution is demonstrated through multi-user, multi-DESS case studies.

Suggested Citation

  • Meng, He & Jia, Hongjie & Xu, Tao & Sun, Jianhang & Wang, Rujing & Wang, Jie, 2024. "Trading mechanism of distributed shared energy storage system considering voltage regulation," Applied Energy, Elsevier, vol. 374(C).
    • Handle: RePEc:eee:appene:v:374:y:2024:i:c:s030626192401287x
    DOI: 10.1016/j.apenergy.2024.123904
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S030626192401287X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.apenergy.2024.123904?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Gan, Wei & Yan, Mingyu & Yao, Wei & Wen, Jinyu, 2021. "Peer to peer transactive energy for multiple energy hub with the penetration of high-level renewable energy," Applied Energy, Elsevier, vol. 295(C).
    2. Fang, Xichen & Guo, Hongye & Zhang, Xian & Wang, Xuanyuan & Chen, Qixin, 2022. "An efficient and incentive-compatible market design for energy storage participation," Applied Energy, Elsevier, vol. 311(C).
    3. Meng, He & Jia, Hongjie & Xu, Tao & Wei, Wei & Wu, Yuhan & Liang, Lemeng & Cai, Shuqi & Liu, Zuozheng & Wang, Rujing & Li, Mengchao, 2022. "Optimal configuration of cooperative stationary and mobile energy storage considering ambient temperature: A case for Winter Olympic Game," Applied Energy, Elsevier, vol. 325(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qianwen Li & Zhilong Chen & Jialin Min & Mengjie Xu & Yanhong Zhan & Wenyue Zhang & Chuanwang Sun, 2024. "Hybrid transaction model for optimizing the distributed power trading market," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhuoxin Lu & Xiaoyuan Xu & Zheng Yan & Dong Han & Shiwei Xia, 2024. "Mobile Energy-Storage Technology in Power Grid: A Review of Models and Applications," Sustainability, MDPI, vol. 16(16), pages 1-19, August.
    2. Li, Kun & Wei, Lishen & Fang, Jiakun & Ai, Xiaomeng & Cui, Shichang & Zhu, Mengshu & Wen, Jinyu, 2024. "Incentive-compatible primary frequency response ancillary service market mechanism for incorporating diverse frequency support resources," Energy, Elsevier, vol. 306(C).
    3. Hirwa, Jusse & Zolan, Alexander & Becker, William & Flamand, Tülay & Newman, Alexandra, 2023. "Optimizing design and dispatch of a resilient renewable energy microgrid for a South African hospital," Applied Energy, Elsevier, vol. 348(C).
    4. Hui, Hongxun & Chen, Yulin & Yang, Shaohua & Zhang, Hongcai & Jiang, Tao, 2022. "Coordination control of distributed generators and load resources for frequency restoration in isolated urban microgrids," Applied Energy, Elsevier, vol. 327(C).
    5. Ting, Zhang & Yunna, Wu, 2024. "Collaborative allocation model and balanced interaction strategy of multi flexible resources in the new power system based on Stackelberg game theory," Renewable Energy, Elsevier, vol. 220(C).
    6. Maurizio Sibilla & Esra Kurul, 2023. "Towards Social Understanding of Energy Storage Systems—A Perspective," Energies, MDPI, vol. 16(19), pages 1-11, September.
    7. Haozhi Zhang & Haibing Wang, 2025. "Research on Energy Storage Planning and Operation for New Energy in the Substitute Power Product Market," Sustainability, MDPI, vol. 17(5), pages 1-23, February.
    8. Xiao, Jucheng & He, Guangyu & Fan, Shuai & Li, Zuyi, 2022. "Substitute energy price market mechanism for renewable energy power system with generalized energy storage," Applied Energy, Elsevier, vol. 328(C).
    9. Sun, Chao & Liu, Yun & Li, Yuanzheng & Lin, Shunjiang & Gooi, Hoay Beng & Zhu, Jizhong, 2023. "Network-aware P2P multi-energy trading in decentralized electric-heat systems," Applied Energy, Elsevier, vol. 345(C).
    10. Gan, Wei & Yan, Mingyu & Yao, Wei & Guo, Jianbo & Ai, Xiaomeng & Fang, Jiakun & Wen, Jinyu, 2021. "Decentralized computation method for robust operation of multi-area joint regional-district integrated energy systems with uncertain wind power," Applied Energy, Elsevier, vol. 298(C).
    11. Zhang, Rongquan & Bu, Siqi & Li, Gangqiang, 2024. "Multi-market P2P trading of cooling–heating-power-hydrogen integrated energy systems: An equilibrium-heuristic online prediction optimization approach," Applied Energy, Elsevier, vol. 367(C).
    12. Kwang Mong Sim, 2023. "An Incentive-Compatible and Computationally Efficient Fog Bargaining Mechanism," Computational Economics, Springer;Society for Computational Economics, vol. 62(4), pages 1883-1918, December.
    13. Yan, Mingyu & Gan, Wei & Zhou, Yue & Wen, Jianfeng & Yao, Wei, 2022. "Projection method for blockchain-enabled non-iterative decentralized management in integrated natural gas-electric systems and its application in digital twin modelling," Applied Energy, Elsevier, vol. 311(C).
    14. Qiu, Dawei & Xue, Juxing & Zhang, Tingqi & Wang, Jianhong & Sun, Mingyang, 2023. "Federated reinforcement learning for smart building joint peer-to-peer energy and carbon allowance trading," Applied Energy, Elsevier, vol. 333(C).
    15. Chen, Yuanyi & Hu, Simon & Zheng, Yanchong & Xie, Shiwei & Yang, Qiang & Wang, Yubin & Hu, Qinru, 2024. "Coordinated optimization of logistics scheduling and electricity dispatch for electric logistics vehicles considering uncertain electricity prices and renewable generation," Applied Energy, Elsevier, vol. 364(C).
    16. Luiz Almeida & Ana Soares & Pedro Moura, 2023. "A Systematic Review of Optimization Approaches for the Integration of Electric Vehicles in Public Buildings," Energies, MDPI, vol. 16(13), pages 1-26, June.
    17. Hutty, Timothy D. & Brown, Solomon, 2024. "P2P trading of heat and power via a continuous double auction," Applied Energy, Elsevier, vol. 369(C).
    18. Maurer, Jona & Tschuch, Nicolai & Krebs, Stefan & Bhattacharya, Kankar & Cañizares, Claudio & Hohmann, Sören, 2023. "Toward transactive control of coupled electric power and district heating networks," Applied Energy, Elsevier, vol. 332(C).
    19. Alizadeh, Ali & Kamwa, Innocent & Moeini, Ali & Mohseni-Bonab, Seyed Masoud, 2023. "Energy management in microgrids using transactive energy control concept under high penetration of Renewables; A survey and case study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 176(C).
    20. Alizadeh, Ali & Esfahani, Moein & Dinar, Farid & Kamwa, Innocent & Moeini, Ali & Mohseni-Bonab, Seyed Masoud & Busvelle, Eric, 2024. "A cooperative transactive multi-carrier energy control mechanism with P2P energy + reserve trading using Nash bargaining game theory under renewables uncertainty," Applied Energy, Elsevier, vol. 353(PB).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:appene:v:374:y:2024:i:c:s030626192401287x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.