Mathematical model for agent-based local energy exchange engine (D3A)

Amin Shokri Gazafroudi, Godwin C. Okwuibe, Sarah Hambridge, Christopher Dietrich, Ana Trbovich, Peter Tzscheutschler, Thomas Hamacher, Miadreza Shafie-Khah

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

5 Scopus citations

Abstract

In recent years, local energy markets have been introduced as a solution to create a competitive and fair environment for energy customers at the distribution level to trade locally. In this paper, a mathematical model for Grid Singularity's hierarchical agent-based local energy exchange engine (D3A) is presented, describing its agent-based framework, local market clearing mechanism and interval-based bidding strategies. The performance of D3A is also evaluated in a case study of a German energy community demonstrating that energy trading within a local energy market brings economic and technical benefits compared to transacting electricity with the up-stream grid and accelerates the decarbonization of the power system. According to our simulation results, we find that the community share of market savings and self sufficiency with continuous market clearing mechanisms is higher compared to the periodic market clearing mechanisms.

Original languageEnglish
Title of host publicationSEST 2021 - 4th International Conference on Smart Energy Systems and Technologies
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781728176604
DOIs
StatePublished - 6 Sep 2021
Event4th International Conference on Smart Energy Systems and Technologies, SEST 2021 - Virtual, Vaasa, Finland
Duration: 6 Sep 20218 Sep 2021

Publication series

NameSEST 2021 - 4th International Conference on Smart Energy Systems and Technologies

Conference

Conference4th International Conference on Smart Energy Systems and Technologies, SEST 2021
Country/TerritoryFinland
CityVirtual, Vaasa
Period6/09/218/09/21

Keywords

  • Bidding strategy
  • Decentralized energy system
  • Local energy market
  • Multi agent system
  • Peer-to-peer

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