Multi-Objective Approach for Managing Uncertain Delivery from Renewable Energy Sources within a Peer-to-Peer Energy Balancing Architecture

On the energy markets, conscious customers may exist who are not only interested in minimising the cost of energy purchase, but, simultaneously, in optimising some other quality criteria (arising from ecological concerns, or social responsibility of the energy producers). In this paper, we develop b...

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Bibliographic Details
Published in:Energies (Basel) Vol. 15; no. 3; p. 675
Main Authors: Drabecki, Mariusz, Toczyłowski, Eugeniusz
Format: Journal Article
Language:English
Published: Basel MDPI AG 01.02.2022
Subjects:
Alternative energy sources
Cost control
Emission standards
energy policy
Energy resources
energy trade
Game theory
Linear programming
market architecture
Mathematical models
multi-commodity offers
Peer to peer computing
peer-to-peer energy sharing
Product differentiation
Renewable resources
ISSN:1996-1073, 1996-1073
Online Access:Get full text
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Summary:On the energy markets, conscious customers may exist who are not only interested in minimising the cost of energy purchase, but, simultaneously, in optimising some other quality criteria (arising from ecological concerns, or social responsibility of the energy producers). In this paper, we develop both a mathematical optimisation problem and a market framework for balancing a power system in a peer-to-peer market setup, where product differentiation can be considered directly on the market. Thus, origins of energy may be clearly identified, and product quality characteristics can be understood by various actors (including households). We derive a multi-objective (mixed-integer) linear programming optimisation problem for balancing the energy system in a peer-to-peer energy trading environment, where not only the cost but also other additional quality criteria are considered. We have identified many possible actors to be present within the proposed market setup. They include consumers, producers, brokers and flexible prosumers with storage. The approach was tested on the IEEE 30-bus standard test system, over three different scenarios, by analysing the impact of various actors/peers activities and different extensions. It has been shown that a multi-objective energy balancing scheme may be developed through crafted optimisation problem and that each type of studied peers may bring some added value to the power system balancing.
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ISSN:1996-1073
1996-1073
DOI:10.3390/en15030675