Abstract
Local electricity markets are emerging solutions to enable local energy trade for the end users and provide grid support services when required. Various models of local electricity markets (LEMs) have been proposed in the literature. The peer-to-peer market model appears as a promising structure among the proposed models. The peer-to-peer market structure enables electricity transactions between the players in a local energy system at a lower cost. It promotes the production from the small low–carbon generation technologies. Energy communities can be the ideal place to implement local electricity markets as they are designed to allow for larger growth of renewable energy and electric vehicles, while benefiting from local transactions. In this context, a LEM model is proposed considering an energy community with high penetration of electric vehicles in which prosumer-to-vehicle (P2V) transactions are possible. Each member of the energy community can buy electricity from the retailer or other members and sell electricity. The problem is modeled as a mixed-integer linear programing (MILP) formulation and solved within a decentralized and iterative process. The decentralized implementation provides acceptable solutions with a reasonable execution time, while the centralized implementation usually gives an optimal solution at the expense of reduced scalability. Preliminary results indicate that there are advantages for EVs as participants of the LEM, and the proposed implementation ensures an optimal solution in an acceptable execution time. Moreover, P2V transactions benefit the local distribution grid and the energy community.
Highlights
Despite the pandemic that largely affected the automotive industry in 2020, the electric vehicle (EV) and renewable energy industry performed remarkably well (Lieven 2021; Wan et al, 2021)
The results reveal that this model could be used to enable the local balancing of the PV forecast power and the uncertain demand, while both consumers and PV owners could benefit from the local P2P market
The optimization models for prosumers and EVs are presented first and the iterative process proposed for ensuring the balance in the P2V market is explained
Summary
Despite the pandemic that largely affected the automotive industry in 2020, the electric vehicle (EV) and renewable energy industry performed remarkably well (Lieven 2021; Wan et al, 2021). Opportunities will include new business models, no-upfront cost grid services, improved renewable energy use, etc. In this context, local electricity markets (LEMs) have been proposed as an effective tool to mitigate some bottlenecks of renewable and EV penetration in local distribution grids. A previous work proposed a centralized model to solve the optimal energy trading in a LEM between prosumers and EVs (Faia et al, 2021b). A decentralized iterative approach is proposed in this study to solve energy management problems, considering the possibility of transactions in a prosumer-to-vehicle (P2V) market, enabling the prosumers to sell the surplus electricity production and to charge the EVs at a lower price than the retail market price. Results presents the results and its discussion, while Conclusion and Future Works provides the conclusions of the article
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