An electricity trade model for microgrid communities in smart grid

Tiansong Cui, Yanzhi Wang, Shahin Nazarian, Massoud Pedram

Research output: Chapter in Book/Report/Conference proceedingConference contribution

19 Scopus citations

Abstract

Distributed microgrid network is the major trend of future smart grid, which contains various kinds of renewable power generation centers and a small group of energy users. In the distributed power system, each microgrid acts as a "prosumer" (producer and consumer) and maximizes its own social welfare. In addition, different microgrids can interact among each other through trading over a marketplace. In this paper, two models are introduced for microgrids to deal with the welfare maximization problems. In the first model, a microgrid is considered as a closed economy group and decides the optimal power generation distribution in terms of time. In the second model, each microgrid can trade with its neighborhoods and thus achieve a welfare increase from making use of its comparative advantage on power generation during a certain period of time. For each model, an efficient solution is presented. Experimental result shows the accuracy and efficiency of our presented solutions.

Original languageEnglish (US)
Title of host publication2014 IEEE PES Innovative Smart Grid Technologies Conference, ISGT 2014
PublisherIEEE Computer Society
ISBN (Print)9781479936526
DOIs
StatePublished - Jan 1 2014
Event2014 IEEE Power and Energy Society Innovative Smart Grid Technologies Conference, ISGT 2014 - Washington, DC, United States
Duration: Feb 19 2014Feb 22 2014

Publication series

Name2014 IEEE PES Innovative Smart Grid Technologies Conference, ISGT 2014

Other

Other2014 IEEE Power and Energy Society Innovative Smart Grid Technologies Conference, ISGT 2014
CountryUnited States
CityWashington, DC
Period2/19/142/22/14

ASJC Scopus subject areas

  • Artificial Intelligence
  • Computer Networks and Communications

Fingerprint Dive into the research topics of 'An electricity trade model for microgrid communities in smart grid'. Together they form a unique fingerprint.

  • Cite this

    Cui, T., Wang, Y., Nazarian, S., & Pedram, M. (2014). An electricity trade model for microgrid communities in smart grid. In 2014 IEEE PES Innovative Smart Grid Technologies Conference, ISGT 2014 [6816496] (2014 IEEE PES Innovative Smart Grid Technologies Conference, ISGT 2014). IEEE Computer Society. https://doi.org/10.1109/ISGT.2014.6816496