Development and Planning of a Hybrid Power System based on Advance Optimization Approach

Ali, Liaqat; Muyeen, S. M.; Ghosh, Arindam

doi:10.1109/aupec52110.2021.9597822

Cited by 9 publications

(2 citation statements)

References 20 publications

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“…In this paper, we extended a previous line of work [32][33] The remainder of this paper is organized as follows. Section-III illustrates the considered microgrids in Australia.…”

Section: Contributionsmentioning

confidence: 99%

Economic Planning and Comparative Analysis of Market-Driven Multi-Microgrid System for Peer-to-Peer Energy Trading

Ali

Muyeen

Bizhani

et al. 2022

IEEE Trans. on Ind. Applicat.

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This paper focuses on the implementation of peer-to-peer (P2P) energy trading and planning of a gridconnected multi-microgrid system (MMS) based on an advanced optimization approach. The proposed architecture is comprised of three microgrids (MGs) with combinations of distributed energy resources (DERs), including wind turbines, photovoltaic panels, and storage batteries to meet the load requirement. A game theory technique, Nash equilibrium, is used to structure the proposed model for multi-objective optimization, where the main objectives are to determine the correct sizing of DERs and optimum payoff values. Due to the variability of DERs, to maintain lower energy costs, the reliability index (IR) and levelized cost of energy (LCOE) are the benchmarks considered for optimization. The proposed model is analyzed and rigorous comparison is carried out for both peer-to-grid (P2G) and P2P energy trading schemes considering the Australian profiles for wind speed, solar irradiation, and residential load. The simulation model is built in MATLAB software and the particle swarm optimization (PSO) algorithm is exploited for the optimization. The results illustrate that P2P energy trading reduces payoff value of multi-objective function (MOF) to 36 %. The robustness of MOF is validated and analyzed with different combinations of constant coefficients K1 and K2. In the end, the most economical and suitable models with DERs are proposed for each microgrid and the results are verified with sensitivity analysis.

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“…In this paper, we extended a previous line of work [32][33] The remainder of this paper is organized as follows. Section-III illustrates the considered microgrids in Australia.…”

Section: Contributionsmentioning

confidence: 99%

Economic Planning and Comparative Analysis of Market-Driven Multi-Microgrid System for Peer-to-Peer Energy Trading

Ali

Muyeen

Bizhani

et al. 2022

IEEE Trans. on Ind. Applicat.

Self Cite

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“…Several research studies also deal with the application of P2P trading-driven LEM in community microgrids (MGs). The sizing and planning of this type of LEM framework are explained in [42] and [43] respectively. To guarantee monetary gains for all entities in a MG, a new method is implemented in [44].…”

Section: B Literature Review Limitations and Motivationsmentioning

confidence: 99%

Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities

Ali¹,

Azim²,

Peters³

et al. 2022

IEEE Access

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This paper presents a collated case study on local energy market (LEM) in Australia, in which energy users take part frequently in peer-to-peer (P2P) energy trading among themselves considering the agile presence of energy retailers and distribution utilities. To do so, first, an overview is provided in regard to LEM architecture, trading model with energy retailers, and the blockchain structure. Then, a new P2P trading mechanism is proposed in the LEM that enables both energy users, i.e., sellers and buyers, to reap financial benefits compared to the existing business-as-usual (BAU) model -where local power is exported and imported via feed-in-tariff (FiT) and time-of-use (ToU) rates. The proposed LEM framework also exploits residential battery energy storage systems (RBESSs); and the community battery energy storage systems (CBESSs) to balance local supply and demand appropriately and contributes towards lowering exports/imports from/to power grids by means of bilateral P2P transactions while the inclusion of responsible energy retailers are assured. Moreover, the margins of both energy retailers and distribution utilities are kept unchanged or increased to some extent by the proposed trading model to incorporate them in the LEM framework effectively. Finally, diverse case studies are provided to validate the proposed LEM mechanism with various studied models and demonstrate the superior performance in contrast with the present-day BAU model.INDEX TERMS Blockchain, community battery, distribution utility, energy retailer, local energy market, peer-to-peer energy trading, smart contracts.

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Blockchain-integrated Local Energy Market and P2P Trading Benefits for Participants and Stakeholders

Ali¹,

Azim²,

Peters³

et al. 2023

2023 IEEE Green Technologies Conference (GreenTech)

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Development and Planning of a Hybrid Power System based on Advance Optimization Approach

Cited by 9 publications

References 20 publications

Economic Planning and Comparative Analysis of Market-Driven Multi-Microgrid System for Peer-to-Peer Energy Trading

Economic Planning and Comparative Analysis of Market-Driven Multi-Microgrid System for Peer-to-Peer Energy Trading

Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities

Blockchain-integrated Local Energy Market and P2P Trading Benefits for Participants and Stakeholders

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