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A game-theoretic economic operation of residential distribution system with high participation of distributed electricity prosumers

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  • Zhang, Ni
  • Yan, Yu
  • Su, Wencong

Abstract

This paper proposes a game-theoretic framework for economic operations of future residential distribution systems with high participation of distributed electricity prosumers. Recently, the large-scale grid integration of distributed renewable energy is becoming a promising solution to restructuring the current power grid infrastructure and ensuring the reliability of energy supply. The wide adoption of distributed renewable energy mainly depends on the participation level of residential consumers and prosumers. Accordingly, there is an urgent need to investigate the economic operations of this new, highly complex retail electricity market that potentially has millions of interactive endpoints. This paper identifies the new roles of utilities and distributed electricity prosumers in the future retail electricity market. The game-theoretic algorithms used to clear the retail electricity market price consider the group coalition scenarios of multiple electricity prosumers. Several numerical case studies are conducted to illustrate and validate the proposed framework.

Suggested Citation

  • Zhang, Ni & Yan, Yu & Su, Wencong, 2015. "A game-theoretic economic operation of residential distribution system with high participation of distributed electricity prosumers," Applied Energy, Elsevier, vol. 154(C), pages 471-479.
    • Handle: RePEc:eee:appene:v:154:y:2015:i:c:p:471-479
    DOI: 10.1016/j.apenergy.2015.05.011
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    References listed on IDEAS

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    1. Su, Wencong & Huang, Alex Q., 2014. "A game theoretic framework for a next-generation retail electricity market with high penetration of distributed residential electricity suppliers," Applied Energy, Elsevier, vol. 119(C), pages 341-350.
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    4. Ren, Hongbo & Zhou, Weisheng & Nakagami, Ken'ichi & Gao, Weijun & Wu, Qiong, 2010. "Multi-objective optimization for the operation of distributed energy systems considering economic and environmental aspects," Applied Energy, Elsevier, vol. 87(12), pages 3642-3651, December.
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    6. Solomon, A.A. & Kammen, Daniel M. & Callaway, D., 2014. "The role of large-scale energy storage design and dispatch in the power grid: A study of very high grid penetration of variable renewable resources," Applied Energy, Elsevier, vol. 134(C), pages 75-89.
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