Abstract
The increasing penetration of renewable energy resources and volatility of energy prices cause huge challenges in planning and regulating energy generation, transport, and distribution. A possible solution can be a paradigm change of employing control actions from the demand side in addition to the conventional generation control. To realize such shifts, the primary stage should be a proper and robust analysis of the energy flexibility on the demand side. Recently, demand side control in buildings has become a major research issue because buildings share a substantial portion of the total electricity consumption. The increasing use of controllable devices in buildings combined with the advent of smart metering system has paved the way to exploit the potential flexibility of managing the energy generation and demand of buildings for optimal energy trading. In this paper, we investigate the benefits of demand resources in buildings for optimal energy trading in day-ahead and real-time energy markets. The building flexible demand resources considered are electric vehicles and batteries. The paper examines the combined optimization of EVs and batteries in the day-ahead and regulation electricity markets with the objective of maximizing the total profit of the building microgrid. It takes EVs driving pattern into consideration. The major contribution of the paper is the exploitation of the energy flexibility of buildings using EVs as dynamic energy storage device and batteries as manageable demand facility. The devised optimization problem is formulated as a double-stage mixed-integer linear programming (MILP) problem, and solved using the CPLEX solver. Several numerical results are presented to validate the effectiveness of the devised optimization framework using actual data of building electricity demand and local renewable generation in the Otaniemi area of Espoo, Finland. We demonstrate that the proposed optimization solution can achieve considerable increase in profit, reduce renewable energy curtailment and decrease power demand in peak hours, compared to uncontrolled or non-optimized operation.
Highlights
Further enthusiastic involvement of the demand side into the energy management and trading ventures and efficient mixing of flexible loads (FLs), prosumers and renewable energy sources (RESs) into the energy system are major goals in planning the future smart grid
Several solutions for storing renewable energy generation have been devised in the literature, for example using vanadium redox flow battery (VRB) [4], pumped storage hydro units [5], multiple energy storage units [6], or compressed-air energy storage [7] to smooth the instability of renewable generation
We study the benefits of coordinating the major flexible loads, energy storage batteries and electric vehicles (EVs), with RESs in a building microgrid
Summary
Further enthusiastic involvement of the demand side into the energy management and trading ventures and efficient mixing of flexible loads (FLs), prosumers and renewable energy sources (RESs) into the energy system are major goals in planning the future smart grid. The submitted day-ahead bids in the first-stage optimization decisions may not be the same with the realtime power transfer to/from the market This is mismatch between the predicted and real-time values of the renewable energy generation, load demand and electricity price is the major source of uncertainty in the proposed optimization framework. This uncertainty is accounted for and managed by second-stage decisions through the determination of the amount of the power transfer at the each hour of the real-time operation. The objective function apprehends the costs of energy trading in the day-ahead and real-time markets, the penalty costs for bid mismatch, renewable generation curtailment, and involuntary load shedding. Discharging decisions, assist to manage the stochasticities of RESs, load demands and electricity prices
Sign-in/Register to view highlights & summary 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.
