With the development of smart grids, a renewable energy generation system has been introduced into a smart house. The generation system usually supplies a storage system with the capability to store the produced energy for satisfying a user's future demand. In this paper, the main objective is to determine the best strategies of energy consumption and optimal storage capacities for residential users, which are both closely related to the energy cost of the users. Energy management with storage capacity optimization is studied by considering the cost of renewable energy generation, depreciation cost of storage and bidirectional energy trading. To minimize the cost to residential users, the non-cooperative game-theoretic method is employed to formulate the model that combines energy consumption and storage capacity optimization. The distributed algorithm is presented to understand the Nash equilibrium which can guarantee Pareto optimality in terms of minimizing the energy cost. Simulation results show that the proposed game approach can significantly benefit residential users. Furthermore, it also contributes to reducing the peak-to-average ratio (PAR) of overall energy demand.
Bilateral contract transaction among generation companies and large consumers is attracting much attention in the electricity market. A large consumer can purchase energy from generation companies directly under a bilateral contract, which can guarantee the economic interests of both sides. However, in pursuit of more profit, the competitions in the transaction exist not only between the company side and the consumer side, but also among generation companies. In order to maximize its profit, each company needs to optimize bidding price to attract large consumers. In this paper, a master-slave game is proposed to describe the competitions among generation companies and large consumers. Furthermore, a Bayesian game approach is formulated to describe the competitions among generation companies considering the incomplete information. In the model, the goal of each company is to determine the optimal bidding price with Bayesian game; and based on the bidding price provided by companies and the predicted spot price, large consumers decide their personnel purchase strategy to minimize their cost. Simulation results show that each participant in the transaction can benefit from the proposed game.
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