Abstract
This paper proposes a joint demand response and energy trading for electric vehicles in an off-grid system. We consider isolated microgrid in a region where, at a given time, some renewable energy generators have superflous energy for sale or to keep in storage facilities, whereas some electric vehicles wish to buy additional energy to meet their deficiency. In our system model, broker lead the market by determining the optimal transaction price by considering a trade-off between commission revenue and power reliability. Buyers and sellers follow the broker's decision by independently submitting a transaction price to the broker. Correspondingly transaction energy is allocated to the buyers in the proportion to their payment, whereas the revenue is allocated to the sellers in proportion to their sales. We investigated the economic benefits of such a joint demand response and energy trading by analyzing its hierarchical decision-making scheme as a single-leader-heterogeneous multi-follower Stackelberg game. With demonstrating an existence of a unique Stackelberg equilibrium, we show that the transaction price in the proposed market model is up to 25.8% cheaper than the existing power market. In addition, we compare the power reliability results with other algorithm to show the suitability of proposed algorithm in the isolated microgrid environment.
Highlights
Due to the energy efficiency improvement of renewable energy sources achieved using modern communication technologies and battery systems, electric vehicles (EVs) that are powered via fast charging devices or off-vehicle sources are envisioned as the next-generation transportation paradigm [1], [2]
Unlike the existing EV energy trading researches [8]–[13] that deal only with either energy trading or demand reduction, we propose a way to deal with both considerations simultaneously by determining proper transaction price
As in [21], we model this cost as a quadratic function of the amount of reduced energy per EV, which can be simplified as
Summary
Due to the energy efficiency improvement of renewable energy sources achieved using modern communication technologies and battery systems, electric vehicles (EVs) that are powered via fast charging devices or off-vehicle sources are envisioned as the next-generation transportation paradigm [1], [2]. There is insufficient consideration of the situation whereby the total energy supply from a generator is less than the total consumption These characteristics should be considered to design more practical market models for off-grid systems to manage the energy supply of EVs. In the case of an off-grid system in which it is difficult to stabilize the system based on the energy supply facilities, a method of controlling the energy consumption via the DR market can be applied. Based on the proposed approach, a broker manages energy trading in the off-grid system by determining the transaction price required to maintain a balance between energy demand and supply with the consideration of each participant’s profit simultaneously. Ej(t)γsell,j(t) has the implicit meaning of the amount of energy to sell to the market
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