Abstract
The smart grid, in broad terms, can be regarded as a complex system encompassing advanced power control, communication and computing technologies. This system includes interconnected microgrids that can draw energy from renewable and non-renewable sources. Considering the intermittent nature of renewable energy sources, it might be difficult for the microgrids to constantly accommodate all the consumers connected to them. Therefore, complexity of the future smart energy systems arises from the multiplicity of interacting players operating as independent decision makers with autonomous behaviors, attitudes and goals. In this context, this paper is an overview concerning the potential of applying Game Theory in the development of a real-time pricing game and a mechanism of energy management in a free electricity market, where several independent electricity suppliers will coexist. This work proposes a model of power exchange based on a Game Theory and a new Hybrid Genetic Algorithm to compute the Nash Equilibrium. We will prove that our algorithm optimizes real-time cost of power, and energy losses.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
