Transactive energy trading of residential prosumers using battery energy storage systems

Nizami, MSH; Hossain, MJ; Amin, BMR; Kashif, M; Fernandez, E; Mahmud, K

Transactive energy trading of residential prosumers using battery energy storage systems

Nizami, MSH Hossain, MJ Amin, BMR Kashif, M Fernandez, E Mahmud, K

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Publisher:: IEEE
Publication Type:: Conference Proceeding
Citation:: 2019 IEEE Milan PowerTech, PowerTech 2019, 2019
Issue Date:: 2019-06-01

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Field	Value	Language
dc.contributor.author	Nizami, MSH
dc.contributor.author	Hossain, MJ
dc.contributor.author	Amin, BMR
dc.contributor.author	Kashif, M
dc.contributor.author	Fernandez, E
dc.contributor.author	Mahmud, K
dc.date	2019-06-23
dc.date.accessioned	2020-04-30T22:21:43Z
dc.date.available	2020-04-30T22:21:43Z
dc.date.issued	2019-06-01
dc.identifier.citation	2019 IEEE Milan PowerTech, PowerTech 2019, 2019
dc.identifier.isbn	9781538647226
dc.identifier.uri	http://hdl.handle.net/10453/140372
dc.description.abstract	© 2019 IEEE. In a transactive energy (TE) framework, prosumers can participate in peer-to-peer (P2P) energy trading with neighbors. TE also allows prosumers to participate in grid services by trading their excess energy or energy consumption flexibility with the grid operators, energy suppliers, and third-party energy companies (e.g., Aggregators). This paper presents a novel bidding strategy for small-scale residential prosumers for energy trading in the day-ahead TE market using the flexibilities of residential battery energy storage systems to maximize the profit from energy trading. The bidding model is formulated as a bi-level optimization problem that determines energy trading bids to maximize profits for the prosumer in the upper level, while the lower-level problem schedules the operation of residential storage units with respect to minimum storage degradation and optimum user comfort. A comprehensive storage model is developed that incorporates the operational constraints and the degradation of storage units when they undergo frequent charge-discharge cycles for the energy trading. The proposed bidding model is evaluated via a case study for a typical Australian prosumer and results indicate the efficacy of the proposed model in terms of profit maximization for the prosumer while satisfying user preferences and constraints related to the operation of the storage units.
dc.language	en
dc.publisher	IEEE
dc.relation.ispartof	2019 IEEE Milan PowerTech, PowerTech 2019
dc.relation.ispartof	IEEE Milan PowerTech
dc.relation.isbasedon	10.1109/PTC.2019.8810458
dc.rights	© 2019 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.	en_US
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Transactive energy trading of residential prosumers using battery energy storage systems
dc.type	Conference Proceeding
utslib.location.activity	Milan, Italy
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Electrical and Data Engineering
pubs.organisational-group	/University of Technology Sydney
utslib.copyright.status	closed_access	*
pubs.consider-herdc	false
dc.date.updated	2020-04-30T22:21:39Z
pubs.finish-date	2019-06-27
pubs.place-of-publication	Piscataway, USA
pubs.publication-status	Published
pubs.start-date	2019-06-23
dc.location	Piscataway, USA

Abstract:

© 2019 IEEE. In a transactive energy (TE) framework, prosumers can participate in peer-to-peer (P2P) energy trading with neighbors. TE also allows prosumers to participate in grid services by trading their excess energy or energy consumption flexibility with the grid operators, energy suppliers, and third-party energy companies (e.g., Aggregators). This paper presents a novel bidding strategy for small-scale residential prosumers for energy trading in the day-ahead TE market using the flexibilities of residential battery energy storage systems to maximize the profit from energy trading. The bidding model is formulated as a bi-level optimization problem that determines energy trading bids to maximize profits for the prosumer in the upper level, while the lower-level problem schedules the operation of residential storage units with respect to minimum storage degradation and optimum user comfort. A comprehensive storage model is developed that incorporates the operational constraints and the degradation of storage units when they undergo frequent charge-discharge cycles for the energy trading. The proposed bidding model is evaluated via a case study for a typical Australian prosumer and results indicate the efficacy of the proposed model in terms of profit maximization for the prosumer while satisfying user preferences and constraints related to the operation of the storage units.

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http://hdl.handle.net/10453/140372