Abstract
The economic viability of renewable energy generation is vital for sustainability. Ensuring that optimal operation is always achieved, using energy management systems and control algorithms, is essential in this endeavor. Here, a new real-time pricing scheme, the Danish flexible pricing scheme, illustrates how residential PV and battery systems can optimize the electricity bill of households, without changing consumption behavior or providing grid services in exchange. This means that the only addition is PV production, storage, and control. A case study is constructed from Danish household consumption data, irradiance measurements, and recorded spot prices. With the input data, the pricing scheme, and the energy flow, simulation models are computed in MATLAB, thereby validating the algorithmic potential and finding the best strategy for charging and discharging the energy storage unit. Different methods are compared to list the viable options and evaluate them, based on the economic feasibility for the household. Furthermore, a discussion of the system implementation is also included to highlight technical difficulties, co-integration opportunities, short-comings, and advantages present in the case study. In conclusion, it is possible to make renewable energy generation, and storage, viable for a Danish residential household under the new pricing scheme.
Highlights
Concerns about the implications of energy production, transmission, and consumption with respect to the environmental challenges that the world is currently faced with have sparked tremendous research into sustainable alternatives and the consequences if changes are not made with sufficient determination [1,2,3]
This paper investigates behind-the-meter storage (BTMS) with unchanged energy consumption behaviour in Denmark for residential consumers
An important assumption behind the motivation for this work is that the consumers intend to maintain their consumption habits, regardless of the electricity price developments. This assumption in itself may be valid to some extent; initiatives such as smart-grid, smart-appliances, and electric vehicle (EV) charge controllers open up the possibility of additional flexibility for the residential energy management system, as consumption can be, partially, used to decrease costs even further
Summary
Concerns about the implications of energy production, transmission, and consumption with respect to the environmental challenges that the world is currently faced with have sparked tremendous research into sustainable alternatives and the consequences if changes are not made with sufficient determination [1,2,3]. Problems naturally arise when the electrical grid is forced to change [4]. Some of the challenges that this presents are natural [5,6], as new initiatives arise and technological advancements are weaved into the mix [7]. From the consumers’ perspective, the electricity market is mostly a supply of energy, traded for monetary value. This has been coupled with real-time pricing (RTP), to prioritize RES [11,12,13]. Technical advancements in consumer technology and systems have been made to utilize RTP schemes, including behind-the-meter storage (BTMS) systems, where energy storage is installed locally. A country that is in the process of installing smart-meters and introducing an RTP scheme is Denmark
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