Decentralized Incentive-based multi-energy trading mechanism for CCHP-based MG cluster

Networked microgrids are emerging for coordinating distributed energy resources in distribution networks in the future Energy Internet, for which developing an efficient energy market model is crucial for facilitating multi-directional trading among microgrids. In this paper, a peer-to-peer energy trading mechanism is presented using non-cooperative bidding among microgrids. Multidimensional willingness, including time pressure and counter behavior for mimicking the personalized behaviors of microgrids, was taken into account in the design of the bidding strategy. Under a parallel trading framework based on a blockchain, the proposed multidimensional willingness bidding strategy turns out to be able to make rational decisions with sufficient flexibility in the bidding process. The simulation results of a realistic case of microgrids from Guizhou Province, China, validate that the proposed peer-to-peer energy trading mechanism is capable of raising the microgrids’ profits and renewable energy source utilization.

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Iterative Auction for P2P Renewable Energy Trading with Dynamic Energy Storage Management

Energies ◽

10.3390/en13184963 ◽

2020 ◽

Vol 13 (18) ◽

pp. 4963

Author(s):

Chen Zhang ◽

Yong Wang ◽

Tao Yang

Keyword(s):

Renewable Energy ◽

Energy Storage ◽

Economic Analysis ◽

Social Welfare ◽

Operation Time ◽

Storage Management ◽

Energy Trading ◽

Storage Devices ◽

High Solar Radiation ◽

Trading Mechanism

In this paper, a peer-to-peer (P2P) renewable energy trading mechanism for microgrids when energy suppliers are equipped with storage devices is studied. A dynamic energy storage management strategy based on the local trading price is proposed and each supplier decides the amount of energy to be sold and stored in real time. An iterative auction algorithm is presented to obtain the market equilibrium and optimal energy allocation schedule. The economic analysis of introducing energy storage devices in this trading market is further studied. Numerical examples of two 7 × 24-h energy trading scenarios with 20 consumers and 20 solar energy producers are used to illustrate the feasibility of this proposed trading mechanism, with sensitivity analysis of different parameters on social welfare. A comparison of the hourly optimal local trading price of these two markets is demonstrated to explain the dynamic process. It is found that in those days with high solar radiation, compared with the market with no storage device, the total cost for buyers in the market when storage devices are used shows a decline of 1.52% and the total profit for sellers shows an increase of 1.27%, which leads to a substantial relative improvement of 118.94% in the overall social welfare. Moreover, a brief economic analysis shows that the advantage of using energy storage in this example is guaranteed after five years of operation. Longer operation time does not mean more benefits considering the deterioration of battery packs and increase of operation and maintenance costs, and the profit reaches its maximum value at the 15th year.

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