Techno-Economic Comparison of Trading Agents for Renewable Energy Communities

The expansion of renewable energy sources and the decentralization of the European energy system will be driven by Renewable Energy Communities (RECs). These local aggregations of independent prosumers were introduced in 2018 and are characterized by peer-to-peer trading among their members. However...

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Bibliographic Details
Published in2022 IEEE PES Innovative Smart Grid Technologies - Asia (ISGT Asia) pp. 716 - 720
Main Authors Teske, Franz, Funk, Felix, Fehrle, Adrian, Franke, Jorg
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.11.2022
Subjects
Asia
distribution grid
Economics
Europe
grid impact
local energy market
Low-carbon economy
peer-to-peer
Peer-to-peer computing
power markets
Renewable energy sources
Smart grids
transactive agents
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Summary:The expansion of renewable energy sources and the decentralization of the European energy system will be driven by Renewable Energy Communities (RECs). These local aggregations of independent prosumers were introduced in 2018 and are characterized by peer-to-peer trading among their members. However, the design of this local energy trading can vary widely in terms of coordination of power transfer, incentive schemes, and members' options for action. In this paper, the power transfers of RECs are coordinated in a market-oriented manner. For this purpose, trading agents with different bidding strategies that consider the specific characteristics of RECs in their trading decisions are developed and compared from a technical and economic perspective. The results show that the trading agents with an intelligent bidding strategy achieve economic advantages over non-intelligent trading agents and no trading agents. It is also shown that economic optimization is not necessarily accompanied by a reduction in peak load.
ISSN:2378-8542
DOI:10.1109/ISGTAsia54193.2022.10003531