scholarly journals Transactive Energy Market for Energy Management in Microgrids: The Monash Microgrid Case Study

Energies ◽  
2020 ◽  
Vol 13 (8) ◽  
pp. 2010 ◽  
Author(s):  
Mohsen Khorasany ◽  
Donald Azuatalam ◽  
Robert Glasgow ◽  
Ariel Liebman ◽  
Reza Razzaghi
Keyword(s):  
Energy Management ◽  
Market Mechanism ◽  
Energy Market ◽  
Distributed Energy ◽  
Novel Approach ◽  
Transactive Energy ◽  
Developing Area ◽  
Microgrid Energy Management ◽  
The Impact

Transactive energy is a novel approach for energy management and trading, which can be used in microgrids to facilitate the integration of distributed energy resources (DERs) in existing networks. The key feature in transactive energy is using market-based solutions for energy management. Hence, an appropriate transactive energy market (TEM) framework should be designed to enable and incentivize DER owners to participate in different markets. The efficient implementation of TEM for microgrid energy management encompasses the application of a variety of design principles. In this rapidly developing area, this paper presents a complete proposal of the TEM as a framework for the design, implementation, and deployment of transactive energy solutions for energy management in microgrids. In particular, we outline the requirements to design an effective market mechanism for the TEM. The applicability of this perspective is demonstrated through the introduction of the Monash Microgrid as a real-world implementation of a TEM solution, where a complete hardware and software foundation is presented as a platform to deploy a market-based solution for microgrid energy management. This is further illustrated through an example scenario, where the application of TEM is discussed to demonstrate the impact of considered design choices on achieving desired objectives.

scholarly journals Cyber Attacks in Transactive Energy Market-Based Microgrid Systems

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1137
Author(s):  
Rumpa Dasgupta ◽  
Amin Sakzad ◽  
Carsten Rudolph
Keyword(s):  
Power System ◽  
Cyber Attacks ◽  
Smart Devices ◽  
Energy Market ◽  
Distributed Energy ◽  
Demand And Supply ◽  
Market Operation ◽  
Transactive Energy ◽  
Distributed Energy Generation ◽  
The Impact

Due to the increasing integration of distributed energy generation in the electric grid, transactive energy markets (TEMs) have recently emerged to balance the demand and supply dynamically across the grid. TEM enables peer to peer (P2P) energy trading and brings flexibility by reducing users’ demand in the grid. It also enhances the system’s efficiency and reduces the pressure on electricity networks. However, it is vulnerable to major cyber attacks as users equipped with smart devices are participating autonomously in the energy market, and an extensive amount of information is exchanged through the communication channel. The potential attacks and impacts of those attacks need to be investigated to develop an attack resilient TEM-based power system. Hence, in this paper, our goal is to systematically identify possible cyber attacks associated with a TEM-based power system. In order to achieve this goal, we classify the attacks during the P2P and flexibility schemes of TEM into three main categories. Then, we explore the attacks under each category in detail. We further distinguish the adversary roles of each particular attack and see what benefits will be received by an adversary through each specific attack. Finally, we present the impact of the attacks on the market operation, consumers, and prosumers of the TEM in this paper.

A non-cooperative game based energy management considering distributed energy resources in price-based and incentive-based demand response program

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Monika Gaba ◽  
Saurabh Chanana
Keyword(s):  
Energy Management ◽  
Cooperative Game ◽  
Demand Response ◽  
Energy Resources ◽  
Distributed Energy Resources ◽  
Distributed Energy ◽  
Energy Storage Devices ◽  
Electricity Cost ◽  
Distributed Approach ◽  
The Impact

Abstract Demand response (DR), an integral part of the smart grid, has great potential in handling the challenges of the existing power grid. The potential of different DR programs in the energy management of residential consumers (RCs) and the integration of distributed energy resources (DERs) is an important research topic. A novel distributed approach for energy management of RCs considering the competitive interactions among them is presented in this paper. The impact of participation of RC’s in price-based (PB) and incentive-based (IB) DR programs is investigated using game theory. For this, an energy management optimization problem (EMOP) is formulated to minimize electricity cost. The utility company employs electricity price as a linear function of aggregated load in the PB DR program and an incentive rate in the IBDR program. RCs are categorized into active and passive users. Active users are further distinguished based on the ownership of energy storage devices (SD) and dispatchable generation units (DGU). EMOP is modeled using a non-cooperative game, and the distributed proximal decomposition method is used to obtain the Nash equilibrium of the game. The results of the proposed approach are analyzed using different case studies. The performance of the proposed approach is evaluated in terms of aggregated cost and system load profile. It has been observed that participation in PB and IBDR program benefits both the utility and the consumers.

scholarly journals Assessing the Plurality of Actors and Policy Interactions: Agent-Based Modelling of Renewable Energy Market Integration

Complexity ◽  
2017 ◽  
Vol 2017 ◽  
pp. 1-24 ◽  
Author(s):  
Marc Deissenroth ◽  
Martin Klein ◽  
Kristina Nienhaus ◽  
Matthias Reeg
Keyword(s):  
Renewable Energy ◽  
Market Integration ◽  
Renewable Energy Sources ◽  
Policy Instruments ◽  
Energy Market ◽  
Agent Based ◽  
Policy Interactions ◽  
Agent Based Modelling ◽  
The Impact

The ongoing deployment of renewable energy sources (RES) calls for an enhanced integration of RES into energy markets, accompanied by a new set of regulations. In Germany, for instance, the feed-in tariff legislation for renewables has been successively replaced by first optional and then obligatory marketing of RES on competitive wholesale markets. This paper introduces an agent-based model that allows studying the impact of changing energy policy instruments on the economic performance of RES operators and marketers. The model structure, its components, and linkages are presented in detail; an additional case study demonstrates the capability of our sociotechnical model. We find that changes in the political framework cannot be mapped directly to RES operators as behaviour of intermediary market actors has to be considered as well. Characteristics and strategies of intermediaries are thus an important factor for successful RES marketing and further deployment. It is shown that the model is able to assess the emergence and stability of market niches.

A novel technique for evaluating and ranking green airlines: benchmarking-base comparison

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Saleh Fahed Alkhatib ◽  
Yazan Khalid Abed-Allah Migdadi
Keyword(s):  
Decision Making ◽  
Content Type ◽  
Cause And Effect ◽  
Green Strength ◽  
Novel Approach ◽  
Global And Local ◽  
The Impact ◽  
Hierarchy Process ◽  
Ranking Technique

PurposeThis study aims to evaluate and rank green airlines by proposing a novel approach that integrates different multi-criteria decision-making (MCDM) techniques.Design/methodology/approachThree MCDM techniques were adopted: Decision-Making Trial and Evaluation Laboratory (DEMATEL) addressed the impact relationships between Airline Green Operations (AGOs) and classified them into cause and effect; analytical hierarchy process (AHP) prioritized these actions and found their global and local weights; and Techniques to Order Preferences by Similarity to Ideal Solution (TOPSIS) used the weighted actions to evaluate and rank 20 green airlines as a case study.FindingsDEMATEL outcomes provide the first AGOs impact relationships map (IRM), classify AGOs into cause and effect actions and provide better understanding how these green operations affect each other. According to the AHP outcomes, “GHG1and fuel” and “GHG2 and Energy” were the most important set of actions, respectively. Finally, a new evaluation and ranking for 20 green airlines has been presented.Practical implicationsThe AGOs IRM provides a better understanding of the airline green operations and how they affect each other. The new evaluation and ranking technique helps airlines to identify their green strength and weakness areas and supports their sustainability processes.Originality/valueThe increasing importance of AGOs evaluation and analysis highlights the importance of green airlines studies like this one. This study analyzed AGOs, their impact relationships, developed their IRM and provided a new worldwide green airline benchmarking base.

scholarly journals A Dynamic Market Mechanism for Combined Heat and Power Microgrid Energy Management

2017 ◽  
Vol 50 (1) ◽  
pp. 10033-10039 ◽  
Author(s):  
Thomas R Nudell ◽  
Massimo Brignone ◽  
Michela Robba ◽  
Andrea Bonfiglio ◽  
Federico Delfino ◽  
...  
Keyword(s):  
Energy Management ◽  
Combined Heat And Power ◽  
Market Mechanism ◽  
Microgrid Energy Management

scholarly journals Transactive Energy for Flexible Prosumers Using Algorithmic Game Theory

2021 ◽  
Author(s):  
Georgios Tsaousoglou ◽  
Pierre Pinson ◽  
Nikolaos Paterakis
Keyword(s):  
Smart Grids ◽  
Resource Constraints ◽  
Decomposition Methods ◽  
Distributed Energy ◽  
Game Theoretic Analysis ◽  
High Penetration ◽  
Game Theoretic ◽  
Benchmark Solution ◽  
Transactive Energy

<div>In modern smart grids, the focus is increasingly shifted towards distributed energy resources and flexible electricity assets owned by prosumers. A system with high penetration of flexible prosumers, has a very large number of variables and constraints, while a lot of the information is local and non-observable. Decomposition methods and local problem solving is considered a promising approach for such settings, particularly when the implementation of a decomposition method features a market-based analogy, i.e. it can be implemented in a Transactive Energy fashion.</div><div>In this paper we present an auction-theoretic scheme for a setting with non-convex prosumer models and resource constraints. The scheme is evaluated on a particular case study and its scalability and efficiency properties are tested and compared to an optimal benchmark solution. A game-theoretic analysis is made with respect to how an intelligent agent, that bids on behalf of a prosumer can try to strategize within the auction, in order to make itself better-off. Our simulations show that there is an alignment of incentives, i.e., when the prosumers try to strategize, they actually improve the auction's efficiency. </div>

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