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Cost-benefit analysis for proactive consumers in a microgrid for transactive energy management systems

Version 2 2024-06-02, 13:35
Version 1 2017-04-06, 10:43
conference contribution
posted on 2024-06-02, 13:35 authored by U Amin, MJ Hossain, J Lu, MA Mahmud
This paper proposes the installation of a battery energy storage (BES) system along with a PV system in a hierarchical transactive energy management (TEM) framework to reduce consumer's electricity bills. An algorithm is developed to control the charging and discharging cycle of the proposed battery in a TEM system. A new cost benefit analysis (CBA) approach is presented for solar energy systems and combination of photovoltaic (PV) units and BES systems when these are installed in a proactive houses. Economic benefit analysis is based on real time electricity rate and battery cost to give an exact idea of returns and yearly savings to consumers on their investment. Real load and generation data are used for the analysis and based on the developed algorithm the appropriate battery size is determined. When it is integrated with a 4kW PV unit, it reduces the power mismatch between the load demand and solar generation. The result shows that proactive consumers can maximize their savings considerably on solar investment by installing BES systems.

History

Pagination

1-6

Location

Brisbane, Qld.

Start date

2016-09-25

End date

2016-09-28

ISBN-13

9781509014057

Language

eng

Publication classification

E Conference publication, E1 Full written paper - refereed

Copyright notice

2016, IEEE

Editor/Contributor(s)

[Unknown]

Title of proceedings

AUPEC2016 : Increasing renewable generation and battery storage in power systems : Proceedings of the 2016 Australasian Universities Power Engineering 2016 Conference

Event

Australasian Committee for Power Engineering. Conference (2016 : Brisbane, Queensland)

Publisher

IEEE

Place of publication

Piscataway, N.J.

Series

Australasian Committee for Power Engineering Conference