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An efficient and economical storage and energy sharing model for multiple multi-energy microgrids

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  • Cao, Wenzhi
  • Xiao, Jiang-Wen
  • Cui, Shi-Chang
  • Liu, Xiao-Kang

Abstract

Multi-energy microgrids are facing a dilemma that realizing high local energy efficiency requires large-capacity ESS with hefty investment costs. To address the dilemma, an efficient and economic hybrid storage and energy sharing model for multiple microgrids is proposed. Specificly, a hybrid energy storage system (HESS) is introduced, which contains an electrical battery and a heat storage tank and is able to realize energy conversion. The multiple microgrids can share energy through the HESS in a collaborative way. An energy optimization problem is formulated to minimize the overall energy costs including energy purchase cost and HESS operating cost. ADMM algorithm is used to solve the problem in a distributed manner to avoid privacy concerns. The storage and energy sharing benefits of the microgrids and the HESS are determined by Nash bargaining solution. Simulation results show that the model can effectively improve the utilization of the renewable energy, and lead to considerable economic benefits for both the microgrids and the HESS.

Suggested Citation

  • Cao, Wenzhi & Xiao, Jiang-Wen & Cui, Shi-Chang & Liu, Xiao-Kang, 2022. "An efficient and economical storage and energy sharing model for multiple multi-energy microgrids," Energy, Elsevier, vol. 244(PB).
    • Handle: RePEc:eee:energy:v:244:y:2022:i:pb:s0360544222000275
    DOI: 10.1016/j.energy.2022.123124
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    References listed on IDEAS

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