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Energy sharing platform based on call auction method with the maximum transaction volume

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Listed:
  • Sun, Lingling
  • Qiu, Jing
  • Han, Xiao
  • Dong, Zhao Yang

Abstract

Based on extensive research work on the application of energy trading models, energy sharing strategies are applied to smart homes. This paper addresses an energy sharing platform as an energy storage solution for renewable distributed generation (RDG) integration in microgrids. An energy-sharing service platform for renewable distributed generation smart home applications is proposed. This platform aims to suit various kinds of energy users, energy generation and energy storage devices. It is based on a decentralized approach, which means a central operator is not required. In the proposed energy management model, the up-reserve (UR) is defined as the maximum state of charge (SOC) value in every participant. The conditional Value-at-Risk (CVaR) method is used to undertake risk analysis and UR calculation. In a shared strategy, the Conditional Value at Risk (CVaR) method is used for risk analysis and energy operations. Moreover, this energy sharing platform refers to a trading mechanism called the call-auction method, which is similar to the opening auction trading in the stock market. The objective of the trading principle is to achieve the maximum trading volume; thus the platform facilitates an increase in the utilization of RDG. This paper details the rigorous proof of the energy sharing strategy used by the algorithm in the energy trading model. A rigorous proof of the algorithm is also given. Furthermore, the proposed energy sharing strategy has been compared with existing offerings of the frequency control ancillary services (FCAS). The historical data in Australia’s electricity market is used to verify the proposed approach. Moreover, the proposed energy sharing platform compares with the FCAS provision. Simulation results show that the surplus energy can be shared among participants who hold different quantities of demand and generation/storage. Therefore, the proposed approach is a cost-effective energy storage solution, especially when energy storage capital cost is high.

Suggested Citation

  • Sun, Lingling & Qiu, Jing & Han, Xiao & Dong, Zhao Yang, 2021. "Energy sharing platform based on call auction method with the maximum transaction volume," Energy, Elsevier, vol. 225(C).
    • Handle: RePEc:eee:energy:v:225:y:2021:i:c:s0360544221004862
    DOI: 10.1016/j.energy.2021.120237
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    References listed on IDEAS

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    1. Das, Saborni & Basu, Mousumi, 2020. "Day-ahead optimal bidding strategy of microgrid with demand response program considering uncertainties and outages of renewable energy resources," Energy, Elsevier, vol. 190(C).
    2. Mena, Rodrigo & Hennebel, Martin & Li, Yan-Fu & Zio, Enrico, 2016. "A multi-objective optimization framework for risk-controlled integration of renewable generation into electric power systems," Energy, Elsevier, vol. 106(C), pages 712-727.
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    Cited by:

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    2. Wu, Chuantao & Zhou, Dezhi & Lin, Xiangning & Sui, Quan & Wei, Fanrong & Li, Zhengtian, 2022. "A novel energy cooperation framework for multi-island microgrids based on marine mobile energy storage systems," Energy, Elsevier, vol. 252(C).

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