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Peer-to-peer transactive mechanism for residential shared energy storage

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  • Zhang, Wen-Yi
  • Zheng, Boshen
  • Wei, Wei
  • Chen, Laijun
  • Mei, Shengwei

Abstract

Shared energy storage is an economic and effective way to solve the problem of renewable energy consumption. Meanwhile, sharing economy means that each energy storage operator and residential consumer can choose freely, which leads to the formation of a peer-to-peer market. This paper studies the equilibrium state of supply-demand flow in a peer-to-peer market model for residential shared energy storage units and proposes a method for service pricing and load dispatching. Peer-to-peer transactions between shared energy storage units and power grid-based suppliers, and residential consumers-based demand markets are considered. A game model is proposed to characterize the market equilibrium, taking into account the strategic behaviors of individual participants. The service price is determined by the relationship between supply and demand, which considers the interests of both the shared energy storage operator and the consumer, leading to the formation of market equilibrium. Based on Karush-Kuhn-Tucker(KKT) optimality conditions and linearization techniques, a mixed-integer linear program (MILP) is developed to compute the market equilibrium, which is fair to both shared energy storage operators and the consumers. Numerical results on real load and electricity prices data validate the effectiveness and correctness of the proposed model.

Suggested Citation

  • Zhang, Wen-Yi & Zheng, Boshen & Wei, Wei & Chen, Laijun & Mei, Shengwei, 2022. "Peer-to-peer transactive mechanism for residential shared energy storage," Energy, Elsevier, vol. 246(C).
    • Handle: RePEc:eee:energy:v:246:y:2022:i:c:s0360544222001074
    DOI: 10.1016/j.energy.2022.123204
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