scholarly journals Energy Trading among Power Grid and Renewable Energy Sources: A Dynamic Pricing and Demand Scheme for Profit Maximization

Sensors ◽  
2021 ◽  
Vol 21 (17) ◽  
pp. 5819
Author(s):  
Yoon-Sik Yoo ◽  
Seung Hyun Jeon ◽  
S. H. Shah Newaz ◽  
Il-Woo Lee ◽  
Jun Kyun Choi
Keyword(s):  
Renewable Energy ◽  
Dynamic Pricing ◽  
Simulation Analysis ◽  
Optimization Problems ◽  
Power Grid ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Ghg Emissions ◽  
Dual Decomposition ◽  
Energy Trading

With the technical growth and the reduction of deployment cost for distributed energy resources (DERs), such as solar photovoltaic (PV), energy trading has been recently encouraged to energy consumers, which can sell energy from their own energy storage system (ESS). Meanwhile, due to the unprecedented rise of greenhouse gas (GHG) emissions, some countries (e.g., Republic of Korea and India) have mandated using a renewable energy certificate (REC) in energy trading markets. In this paper, we propose an energy broker model to boost energy trading between the existing power grid and energy consumers. In particular, to maximize the profits of energy consumers and the energy provider, the proposed energy broker is in charge of deciding the optimal demand and dynamic price of energy in an REC-based energy trading market. In this solution, the smart agents (e.g., IoT intelligent devices) of consumers exchange energy trading associated information, including the amount of energy generation, price and REC. For deciding the optimal demand and dynamic pricing, we formulate convex optimization problems using dual decomposition. Through a numerical simulation analysis, we compare the performance of the proposed dynamic pricing strategy with the conventional pricing strategies. Results show that the proposed dynamic pricing and demand control strategies can encourage energy trading by allowing RECs trading of the conventional power grid.

Modeling an Energy Storage System Based on a Hybrid Renewable Energy System in Stand-alone Applications

2017 ◽  
Vol 68 (11) ◽  
pp. 2641-2645
Author(s):  
Alexandru Ciocan ◽  
Ovidiu Mihai Balan ◽  
Mihaela Ramona Buga ◽  
Tudor Prisecaru ◽  
Mohand Tazerout
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Storage Systems ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Energy Storage System ◽  
Compressed Air ◽  
Energy Sources ◽  
Energy Storage Systems ◽  
Hybrid Renewable Energy System

The current paper presents an energy storage system that stores the excessive energy, provided by a hybrid system of renewable energy sources, in the form of compressed air and thermal heat. Using energy storage systems together with renewable energy sources represents a major challenge that could ensure the transition to a viable economic future and a decarbonized economy. Thermodynamic calculations are conducted to investigate the performance of such systems by using Matlab simulation tools. The results indicate the values of primary and global efficiencies for various operating scenarios for the energy storage systems which use compressed air as medium storage, and shows that these could be very effective systems, proving the possibility to supply to the final user three types of energy: electricity, heat and cold function of his needs.

scholarly journals Voltage Stability of Power Systems with Renewable-Energy Inverter-Based Generators: A Review

Electronics ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 115
Author(s):  
Nasser Hosseinzadeh ◽  
Asma Aziz ◽  
Apel Mahmud ◽  
Ameen Gargoom ◽  
Mahbub Rabbani
Keyword(s):  
Renewable Energy ◽  
Power Systems ◽  
Voltage Stability ◽  
Reactive Power ◽  
Power Grid ◽  
Renewable Energy Sources ◽  
Electrical Power ◽  
System Stability ◽  
Special Issue ◽  
Synchronous Generators

The main purpose of developing microgrids (MGs) is to facilitate the integration of renewable energy sources (RESs) into the power grid. RESs are normally connected to the grid via power electronic inverters. As various types of RESs are increasingly being connected to the electrical power grid, power systems of the near future will have more inverter-based generators (IBGs) instead of synchronous machines. Since IBGs have significant differences in their characteristics compared to synchronous generators (SGs), particularly concerning their inertia and capability to provide reactive power, their impacts on the system dynamics are different compared to SGs. In particular, system stability analysis will require new approaches. As such, research is currently being conducted on the stability of power systems with the inclusion of IBGs. This review article is intended to be a preface to the Special Issue on Voltage Stability of Microgrids in Power Systems. It presents a comprehensive review of the literature on voltage stability of power systems with a relatively high percentage of IBGs in the generation mix of the system. As the research is developing rapidly in this field, it is understood that by the time that this article is published, and further in the future, there will be many more new developments in this area. Certainly, other articles in this special issue will highlight some other important aspects of the voltage stability of microgrids.

scholarly journals Emergence of blockchain-technology application in peer-to-peer electrical-energy trading: a review

Clean Energy ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 104-123
Author(s):  
Manish Kumar Thukral
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Research Work ◽  
Energy Sector ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Energy Trading ◽  
Technology Application ◽  
Blockchain Technology ◽  
The Common

Abstract Renewable-energy resources require overwhelming adoption by the common masses for safeguarding the environment from pollution. In this context, the prosumer is an important emerging concept. A prosumer in simple terms is the one who consumes as well as produces electricity and sells it either to the grid or to a neighbour. In the present scenario, peer-to-peer (P2P) energy trading is gaining momentum as a new vista of research that is viewed as a possible way for prosumers to sell energy to neighbours. Enabling P2P energy trading is the only method of making renewable-energy sources popular among the common masses. For making P2P energy trading successful, blockchain technology is sparking considerable interest among researchers. Combined with smart contracts, a blockchain provides secure tamper-proof records of transactions that are recorded in distributed ledgers that are immutable. This paper explores, using a thorough review of recently published research work, how the existing power sector is reshaping in the direction of P2P energy trading with the application of blockchain technology. Various challenges that are being faced by researchers in the implementation of blockchain technology in the energy sector are discussed. Further, this paper presents different start-ups that have emerged in the energy-sector domain that are using blockchain technology. To give insight into the application of blockchain technology in the energy sector, a case of the application of blockchain technology in P2P trading in electrical-vehicle charging is discussed. At the end, some possible areas of research in the application of blockchain technology in the energy sector are discussed.

scholarly journals Optimal Configuration and Sizing of Seaport Microgrids including Renewable Energy and Cold Ironing—The Port of Aalborg Case Study

Energies ◽  
2022 ◽  
Vol 15 (2) ◽  
pp. 431
Author(s):  
Nur Najihah Abu Bakar ◽  
Josep M. Guerrero ◽  
Juan C. Vasquez ◽  
Najmeh Bazmohammadi ◽  
Muzaidi Othman ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Maximum Load ◽  
Optimal Operation ◽  
Economic Feasibility ◽  
Photovoltaic System ◽  
Design Stage ◽  
Component Size

Microgrids are among the promising green transition technologies that will provide enormous benefits to the seaports to manage major concerns over energy crises, environmental challenges, and economic issues. However, creating a good design for the seaport microgrid is a challenging task, considering different objectives, constraints, and uncertainties involved. To ensure the optimal operation of the system, determining the right microgrid configuration and component size at minimum cost is a vital decision at the design stage. This paper aims to design a hybrid system for a seaport microgrid with optimally sized components. The selected case study is the Port of Aalborg, Denmark. The proposed grid-connected structure consists of renewable energy sources (photovoltaic system and wind turbines), an energy storage system, and cold ironing facilities. The seaport architecture is then optimized by utilizing HOMER to meet the maximum load demand by considering important parameters such as solar global horizontal irradiance, temperature, and wind resources. Finally, the best configuration is analyzed in terms of economic feasibility, energy reliability, and environmental impacts.

scholarly journals Design Considerations for the Liquid Air Energy Storage System Integrated to Nuclear Steam Cycle

2021 ◽  
Vol 11 (18) ◽  
pp. 8484
Author(s):  
Seok-Ho Song ◽  
Jin-Young Heo ◽  
Jeong-Ik Lee
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Power Plant ◽  
Nuclear Power Plant ◽  
Nuclear Power ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Energy Storage System ◽  
Power Sources

A nuclear power plant is one of the power sources that shares a large portion of base-load. However, as the proportion of renewable energy increases, nuclear power plants will be required to generate power more flexibly due to the intermittency of the renewable energy sources. This paper reviews a layout thermally integrating the liquid air energy storage system with a nuclear power plant. To evaluate the performance realistically while optimizing the layout, operating nuclear power plant conditions are used. After revisiting the analysis, the optimized performance of the proposed system is predicted to achieve 59.96% of the round-trip efficiency. However, it is further shown that external environmental conditions could deteriorate the performance. For the design of liquid air energy storage-nuclear power plant integrated systems, both the steam properties of the linked plants and external factors should be considered.

scholarly journals Indices to Assess the Integration of Renewable Energy Resources on Transmission Systems

2013 ◽  
Vol 2013 ◽  
pp. 1-8 ◽  
Author(s):  
Alexandros I. Nikolaidis ◽  
Francisco M. Gonzalez-Longatt ◽  
C. A. Charalambous
Keyword(s):  
Renewable Energy ◽  
Power Systems ◽  
Renewable Energy Sources ◽  
Ghg Emissions ◽  
Electrical Network ◽  
Transmission Network ◽  
Renewable Energy Resources ◽  
Continuous Increase ◽  
And Control ◽  
The Impact

The continuous increase on the penetration levels of Renewable Energy Sources (RESs) in power systems has led to radical changes on the design, operation, and control of the electrical network. This paper investigates the influence of these changes on the operation of a transmission network by developing a set of indices, spanning from power losses to GHG emissions reduction. These indices are attempting to quantify any impacts therefore providing a tool for assessing the RES penetration in transmission networks, mainly for isolated systems. These individual indices are assigned an analogous weight and are mingled to provide a single multiobjective index that performs a final evaluation. These indices are used to evaluate the impact of the integration of RES into the classic WSCC 3-machine, 9-bus transmission network.

Revolution of Energy Storage System in Smart Grids

2016 ◽  
pp. 181-206
Author(s):  
Jianhui Wong ◽  
Yun Seng Lim
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Smart Grid ◽  
Electric Vehicles ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Energy Storage System ◽  
Energy Sources ◽  
Electrical Grid ◽  
Technical Issues

Electrical grid is no longer featured in a conventional way nowadays. Today, the growing of new technologies, primarily the distributed renewable energy sources and electric vehicles, has been integrated with the distribution networks causing several technical issues. As a result, the penetration of the renewable energy sources can be limited by the utility companies. Smart grid has been emerged as one of the solutions to the technical issues, hence allowing the usage of renewable and improving the energy efficiency of the electrical grid. The challenge is to develop an intelligent management system to maintain the balance between the generation and demand. This task can be performed by using energy storage system. As part of the smart grid, the deployment of energy storage system plays a critical role in stabilizing the voltage and frequency of the networks with renewable energy sources and electric vehicles. This book chapter illustrates the revolution and the roles of energy storage for improving the network performance.

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