Abstract
Peer-to-peer (P2P) energy trading of microgrids is considered as a promising solution in reducing the carbon emission of renewable-embedded energy systems. This paper proposes a novel energy market framework for enabling the P2P local transactions under the deregulated market environment. The proposed market model is aimed to provide a practical mechanism design to incentivize optimal P2P energy trading in the existing electricity market. A cascaded model predictive control (MPC) problem formulation is devised for both the day-ahead market and adjustment markets. Finally, numerical results demonstrate the effectiveness of the proposed framework in integrating microgrid P2P trading into the electricity market.
| Original language | English |
|---|---|
| Title of host publication | 2021 IEEE 5th Conference on Energy Internet and Energy System Integration (EI2 2021) |
| Publisher | Institute of Electrical and Electronics Engineers Inc. |
| Pages | 114-118 |
| Number of pages | 5 |
| ISBN (Electronic) | 9781665434256 |
| ISBN (Print) | 9781665434263 |
| DOIs | |
| Publication status | Published - Apr 2022 |
| Externally published | Yes |
| Event | 5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021 - Taiyuan, China Duration: 22 Oct 2021 → 25 Oct 2021 |
Conference
| Conference | 5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021 |
|---|---|
| Country/Territory | China |
| City | Taiyuan |
| Period | 22/10/21 → 25/10/21 |
Bibliographical note
Publisher Copyright:© 2021 IEEE
Funding
This work was supported in part by National Natural Science Foundation of China (71971183 and 72071100), Guangdong Basic and Applied Basic Research Fund (2019A1515111173), Young Talent Program (Department of Education of Guangdong) (2018KQNCX223) and High-level University Fund (G02236002).
Keywords
- electricity market
- microgrids
- model predictive control
- Peer-to-peer energy trading
