Peer-to-peer trading-based efficient flexibility securing mechanism to support distribution system stability
- Authors
- Park, Sung-Won; Zhang, Zhong; Li, Furong; Son, Sung-Yong
- Issue Date
- 1-Mar-2021
- Publisher
- ELSEVIER SCI LTD
- Keywords
- Dynamic flexibility index; Flexibility transaction; Game theory; P2P transaction mechanism
- Citation
- APPLIED ENERGY, v.285
- Journal Title
- APPLIED ENERGY
- Volume
- 285
- URI
- https://scholarworks.bwise.kr/gachon/handle/2020.sw.gachon/81077
- DOI
- 10.1016/j.apenergy.2020.116403
- ISSN
- 0306-2619
- Abstract
- 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. © 2020
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