Published November 16, 2023 | Version v1

Energy trading strategy of community shared energy storage

  • 1. Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development (GECAD)

Description

One of the challenges of renewable energy is its uncertain nature. Community shared energy storage (CSES) is a solution to alleviate the uncertainty of renewable resources by aggregating excess energy during appropriate periods and discharging it when renewable generation is low. CSES involves multiple consumers or producers sharing an energy storage system. This work presents an optimal strategy for CSES operators and community members to determine their optimal energy trading strategy based on social welfare maximization. Energy communities contain diverse resources, demand patterns, and constraints. The Alternating Direction Method of Multipliers (ADMM) technique is an iterative nature that decomposes the original problem into smaller sub-problems and enables parallel processing of these sub-problems. The final decomposed subproblems enable community agents to determine their optimal strategies independently decreasing the solving time, speeding up convergence to the optimal solution, and improving the scalability. The performance of the proposed model is evaluated by a case study. The presented model demonstrates that by leasing the capacity of CSES, community members could decrease their energy supply costs. Moreover, the CSES can supply the required charging and discharging power of community members from the local grid.

Notes (En)

Open access funding provided by FCT|FCCN (b-on). This work has received funding from the EU Horizon 2020 research and innovation program under project TradeRES (Grant Agreement No. 864276). The authors acknowledge the work facilities and equipment provided by GECAD research center (UIDB/00760/2020) to the project team. Pedro Faria received funding from FCT, under the contract CEECIND/01423/2021.

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Additional details

Funding

European Commission
TradeRES - Tools for the Design and modelling of new markets and negotiation mechanisms for a ~100% Renewable European Power Systems 864276
Fundação para a Ciência e Tecnologia
UIDB/00760/2020 - Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development UIDB/00760/2020