Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids
Networked microgrids (MGs) have a great potential to improve the efficiency, reliability, resilience, security, and sustainability of power supply services. Peer-to-peer (P2P) energy trading built on a smart information system in networked MGs is an emerging economic approach to facilitate energy sh...
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| Format: | Article |
| Language: | English |
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IEEE
2022-01-01
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| Series: | IEEE Access |
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| Online Access: | https://ieeexplore.ieee.org/document/9969600/ |
| _version_ | 1811178308287594496 |
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| author | Hailing Zhu Khmaies Ouahada Adnan M. Abu-Mahfouz |
| author_facet | Hailing Zhu Khmaies Ouahada Adnan M. Abu-Mahfouz |
| author_sort | Hailing Zhu |
| collection | DOAJ |
| description | Networked microgrids (MGs) have a great potential to improve the efficiency, reliability, resilience, security, and sustainability of power supply services. Peer-to-peer (P2P) energy trading built on a smart information system in networked MGs is an emerging economic approach to facilitate energy sharing among networked MGs to achieve mutual cost-effective operation and improve the reliability and stability of energy supply service. Such a distributed and competitive energy trading market urges the need for an efficient energy trading strategy that incentivizes the self-interested MGs with various energy production and consumption profiles to participate in energy trading. In this paper, we propose a distributed real-time P2P energy trading strategy that integrates energy trading into energy management and enables the MGs with renewable energy sources (RESs) and energy storage systems (ESSs) to manage their storage scheduling, energy supply, and energy trading in a dynamic manner, jointly considering the randomness of renewable energy generation and load demand, operational constraints of ESSs and transmission losses associated with energy exchange. The proposed energy control and bidding algorithm allows each MG to dynamically and independently determine its energy control actions and price-quantity bids/offers, while the proposed trading pair matching algorithm matches the MGs on a many-to-many basis with respect to their individual payoffs, which couple price-quantity bids/offers of the MGs with distance-dependent energy transmission losses associated with energy exchange. Numerical simulation results demonstrate that the proposed distributed energy trading system yields significant improvements in terms of energy cost savings and renewable energy utilization efficiency, while reducing energy transmission losses within the system. |
| first_indexed | 2024-04-11T06:17:29Z |
| format | Article |
| id | doaj.art-743c37485e66498d8fb94d8532c8c54b |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-04-11T06:17:29Z |
| publishDate | 2022-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-743c37485e66498d8fb94d8532c8c54b2022-12-22T04:41:01ZengIEEEIEEE Access2169-35362022-01-011012635212636910.1109/ACCESS.2022.32266259969600Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked MicrogridsHailing Zhu0https://orcid.org/0000-0003-4022-6592Khmaies Ouahada1https://orcid.org/0000-0002-8462-5061Adnan M. Abu-Mahfouz2https://orcid.org/0000-0002-6413-3924Department of Electrical and Electronic Engineering Science, University of Johannesburg, Auckland Park, Johannesburg, South AfricaDepartment of Electrical and Electronic Engineering Science, University of Johannesburg, Auckland Park, Johannesburg, South AfricaDepartment of Electrical and Electronic Engineering Science, University of Johannesburg, Auckland Park, Johannesburg, South AfricaNetworked microgrids (MGs) have a great potential to improve the efficiency, reliability, resilience, security, and sustainability of power supply services. Peer-to-peer (P2P) energy trading built on a smart information system in networked MGs is an emerging economic approach to facilitate energy sharing among networked MGs to achieve mutual cost-effective operation and improve the reliability and stability of energy supply service. Such a distributed and competitive energy trading market urges the need for an efficient energy trading strategy that incentivizes the self-interested MGs with various energy production and consumption profiles to participate in energy trading. In this paper, we propose a distributed real-time P2P energy trading strategy that integrates energy trading into energy management and enables the MGs with renewable energy sources (RESs) and energy storage systems (ESSs) to manage their storage scheduling, energy supply, and energy trading in a dynamic manner, jointly considering the randomness of renewable energy generation and load demand, operational constraints of ESSs and transmission losses associated with energy exchange. The proposed energy control and bidding algorithm allows each MG to dynamically and independently determine its energy control actions and price-quantity bids/offers, while the proposed trading pair matching algorithm matches the MGs on a many-to-many basis with respect to their individual payoffs, which couple price-quantity bids/offers of the MGs with distance-dependent energy transmission losses associated with energy exchange. Numerical simulation results demonstrate that the proposed distributed energy trading system yields significant improvements in terms of energy cost savings and renewable energy utilization efficiency, while reducing energy transmission losses within the system.https://ieeexplore.ieee.org/document/9969600/Energy managementenergy storage managementenergy tradingLyapunov optimizationmatching theorymicrogrids |
| spellingShingle | Hailing Zhu Khmaies Ouahada Adnan M. Abu-Mahfouz Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids IEEE Access Energy management energy storage management energy trading Lyapunov optimization matching theory microgrids |
| title | Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids |
| title_full | Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids |
| title_fullStr | Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids |
| title_full_unstemmed | Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids |
| title_short | Transmission Loss-Aware Peer-to-Peer Energy Trading in Networked Microgrids |
| title_sort | transmission loss aware peer to peer energy trading in networked microgrids |
| topic | Energy management energy storage management energy trading Lyapunov optimization matching theory microgrids |
| url | https://ieeexplore.ieee.org/document/9969600/ |
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