Abstract
Recently, several market types and regulations have been developed in an attempt to handle the increased carbon effect. End-users can also actively participate in the existing distribution system thanks to Peer-to-Peer (P2P) energy trading, which is one of the new emerging market types. In this paper, a novel dual bidding strategy for multi-hierarchical P2P energy trading that includes both intra community and inter communities is proposed considering uncertainties in solar irradiance and temperature. While the lower-level problem consists of both optimal bids of the households to the own Local Market Operators (LMO) for intra community trades and optimal bids of the LMOs to the Central Market Operator (CMO) for inter community trades, profit of both the LMOs and CMO is maximized by clearing the market prices at the upper-level problem. To prove the validity of the devised model, a set of case studies are created. Moreover, the results suggest that the proposed bi-level model is robust, and a remarkable amount of cost savings could be provided by integrating the model.
Highlights
End-users have been becoming a part of the distribution system along with the Peer-to-Peer (P2P) energy trading, which is one of these solutions
Carbon emissions can be reduced by increasing self consumption of the renewable energy resources especially photovoltaic (PV) by means of such a new emerging market type [2]
Optimal local trading prices are determined by the Central Market Operator (CMO) according to the all energy bids received from Local Market Operators (LMO) and grid price signals received from Distribution System Operator (DSO)
Summary
Carbon emissions can be reduced by increasing self consumption of the renewable energy resources especially photovoltaic (PV) by means of such a new emerging market type [2]. Another point in the P2P trading is to encourage all the participated households in terms of economy. In this context, there are available several regulations and market clearing strategies [3]. New energy management strategies could be introduced to the grid with the aim of mitigating some challenges like voltage drops, increment in power losses, and peak loading [4]-[7]. Selling excess energy between communities has been playing a key role to ensure the participation of any community which has no generation unit
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