Multi Agent-based Distributed Energy Arbitrage in Residential Distribution System

Md Habib Ullah, Yeonho Jeong, Jae Do Park

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Scopus citations

Abstract

The energy arbitrage in residential microgrid system gained attention in recent years and the idea is to efficiently utilize the small scale distributed energy resources. Although the peer-to-peer (P2P) business framework is widely considered in such distribution systems, the conventional P2P model may become inefficient when the supply-to-demand ratio is very high or low in the system, which could increase the system operational cost. Moreover, it is more challenging to accommodate a large number of prosumers in a P2P market due to communication and computation burden. Considering these issues, this paper proposes a regionally-expanded P2P energy trading system in a hierarchical structure. In this approach, a large system can be divided into small sub-systems that can participate in the energy arbitrage effectively. The proposed energy arbitrage model was applied in residential microgrids consist of smart solar homes, namely nanogrids, to verify the effectiveness. Results showed that the proposed approach can provide more financial benefits to the consumers by reducing the operational cost.

Original languageEnglish (US)
Title of host publication2019 IEEE Power and Energy Society General Meeting, PESGM 2019
PublisherIEEE Computer Society
ISBN (Electronic)9781728119816
DOIs
StatePublished - Aug 2019
Event2019 IEEE Power and Energy Society General Meeting, PESGM 2019 - Atlanta, United States
Duration: Aug 4 2019Aug 8 2019

Publication series

NameIEEE Power and Energy Society General Meeting
Volume2019-August
ISSN (Print)1944-9925
ISSN (Electronic)1944-9933

Conference

Conference2019 IEEE Power and Energy Society General Meeting, PESGM 2019
Country/TerritoryUnited States
CityAtlanta
Period8/4/198/8/19

All Science Journal Classification (ASJC) codes

  • Energy Engineering and Power Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

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