TY - GEN
T1 - Mathematical model for agent-based local energy exchange engine (D3A)
AU - Gazafroudi, Amin Shokri
AU - Okwuibe, Godwin C.
AU - Hambridge, Sarah
AU - Dietrich, Christopher
AU - Trbovich, Ana
AU - Tzscheutschler, Peter
AU - Hamacher, Thomas
AU - Shafie-Khah, Miadreza
N1 - Publisher Copyright:
© 2021 IEEE.
PY - 2021/9/6
Y1 - 2021/9/6
N2 - 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.
AB - 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.
KW - Bidding strategy
KW - Decentralized energy system
KW - Local energy market
KW - Multi agent system
KW - Peer-to-peer
UR - http://www.scopus.com/inward/record.url?scp=85116610487&partnerID=8YFLogxK
U2 - 10.1109/SEST50973.2021.9543262
DO - 10.1109/SEST50973.2021.9543262
M3 - Conference contribution
AN - SCOPUS:85116610487
T3 - SEST 2021 - 4th International Conference on Smart Energy Systems and Technologies
BT - SEST 2021 - 4th International Conference on Smart Energy Systems and Technologies
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 4th International Conference on Smart Energy Systems and Technologies, SEST 2021
Y2 - 6 September 2021 through 8 September 2021
ER -