Techno-Economic Comparison of Trading Agents for Renewable Energy Communities

Teske F, Funk F, Fehrle A, Franke J (2022)

Publication Type: Conference contribution

Publication year: 2022

Original Authors: Franz Teske, Felix Funk, Adrian Fehrle, Jorg Franke

Series: IEEE PES Innovative Smart Grid Technologies

Conference Proceedings Title: IEEE

Event location: Singapur

DOI: 10.1109/ISGTAsia54193.2022.10003531

Abstract

The expansion of renewable energy sources and the decentralization of the European energy system will be driven by Renewable Energy Communities (RECs). These local aggregations of independent prosumers were introduced in 2018 and are characterized by peer-to-peer trading among their members. However, the design of this local energy trading can vary widely in terms of coordination of power transfer, incentive schemes, and members' options for action. In this paper, the power transfers of RECs are coordinated in a market-oriented manner. For this purpose, trading agents with different bidding strategies that consider the specific characteristics of RECs in their trading decisions are developed and compared from a technical and economic perspective. The results show that the trading agents with an intelligent bidding strategy achieve economic advantages over non-intelligent trading agents and no trading agents. It is also shown that economic optimization is not necessarily accompanied by a reduction in peak load.

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How to cite

APA:

Teske, F., Funk, F., Fehrle, A., & Franke, J. (2022). Techno-Economic Comparison of Trading Agents for Renewable Energy Communities. In IEEE. Singapur, SG.

MLA:

Teske, Franz, et al. "Techno-Economic Comparison of Trading Agents for Renewable Energy Communities." Proceedings of the 2022 IEEE PES Innovative Smart Grid Technologies - Asia (ISGT Asia), Singapur 2022.

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