Peer-to-peer energy exchange, autonomy goals, and financial rewards in Saudi Arabia households

Abstract

Peer-to-Peer energy trading is becoming increasingly essential and attracting a significant centralized transient energy trading market, an optimization model interest from companies and academics. As a result, new methods of creation and implementation have been developed. The deployment of the consumer concept, which combines residential needs with photovoltaic and battery storage systems, has been proposed as a viable approach to promote the integration of renewable energies with neighboring energy consumers' distribution networks. Therefore, this paper presents an innovative group of grid-connected residential consumers and communities that uses an appropriate MILP method to share, organize and schedule surplus energy generated from distributed energy resources (DER) with neighboring energy consumers/deficit. The energy community investigated in this study consists of four consumers (a residential load and two consumers, a solar PV system and a battery storage system), an energy community manager, and an energy seller, all connected to a distribution network. The proposed market model aims to investigate the economic benefits of renewable energy sources participating in centralized transit energy trading. A centralized strategy is used in transit energy trading between 10 proactive consumers and the energy network, with the energy community manager overseeing trading operations in the energy community. In the centralized transient energy trading market, an optimization model is proposed to increase the financial benefits of rooftop solar PV/ESS systems.