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With the expected increase in the energy transaction of prosumers, there are increasing issues related to maintaining and improving the stability of a distribution system. The flexibility of a prosumer can be effectively used to improve the stability at much reduced cost. Most of the existing studies have separately approached energy and flexibility transactions causing inefficiency. This paper proposes a new peer-to-peer (P2P) transaction mechanism that enables both flexibility and energy transactions to be considered and balanced. In this mechanism, a P2P community has an obligation to reserve the flexibility during P2P energy transaction to ensure an intact distribution system. The prosumers can trade the flexibility among each other to avoid a penalty by securing the required amount of flexibility given by the distribution system operator. A dynamic flexibility index is proposed to quantify to represent the degree of flexibility that can be provided by a prosumer. A Stackelberg game approach using the dynamic flexibility index is modeled to solve the bidding process. The proposed mechanism is described and analyzed through a case study for prosumers with battery energy storage and photovoltaic systems. As a result of case studies, in the proposed mechanism, prosumers can maximize profits through the optimal use of energy resources and simultaneously maintain the stability of distribution systems.
|Early online date||18 Jan 2021|
|Publication status||Published - 1 Mar 2021|
- Dynamic flexibility index
- Flexibility transaction
- Game theory
- P2P transaction mechanism
ASJC Scopus subject areas
- Building and Construction
- Mechanical Engineering
- Management, Monitoring, Policy and Law
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- 1 Finished
Peer-to-Peer Energy Trading and Sharing - 3M (Multi-times, Multi-scales, Multi-qualities)
Li, F., Jeon, J. & Li, R.
Engineering and Physical Sciences Research Council
1/09/16 → 29/02/20
Project: Research council