Research on Renewable Energy Trading Strategies Based on Evolutionary Game Theory

Fei Huang, Hua Fan, Yunlong Shang, Yuankang Wei, Sulaiman Z. Almutairi (), Abdullah M. Alharbi, Hengrui Ma and Hongxia Wang
Additional contact information
Fei Huang: Guangxi Power Exchange Center Co., Ltd., Nanning 530023, China
Hua Fan: Guangxi Power Exchange Center Co., Ltd., Nanning 530023, China
Yunlong Shang: Guangxi Power Exchange Center Co., Ltd., Nanning 530023, China
Yuankang Wei: Guangxi Power Exchange Center Co., Ltd., Nanning 530023, China
Sulaiman Z. Almutairi: Department of Electrical Engineering, College of Engineering, Prince Sattam bin Abdulaziz University, Al Kharj 16278, Saudi Arabia
Abdullah M. Alharbi: Department of Electrical Engineering, College of Engineering in Wadi Addawasir, Prince Sattam bin Abdulaziz University, Wadi Addawasir 11991, Saudi Arabia
Hengrui Ma: Hubei Engineering and Technology Research Center for AC/DC Intelligent Distribution Network, School of Electrical Engineering and Automation, Wuhan University, Wuhan 430072, China
Hongxia Wang: Hubei Engineering and Technology Research Center for AC/DC Intelligent Distribution Network, School of Electrical Engineering and Automation, Wuhan University, Wuhan 430072, China

Sustainability, 2024, vol. 16, issue 7, 1-26

Abstract: The authors construct a tripartite evolutionary game model that considers renewable energy, traditional coal-fired power plants, and market users. We propose multiple income matrices under different strategies, conduct evolutionary stability analysis, and form a series of assumptions that meet the stability of the game. We also simulate and analyze the impact of key factors—such as assessment costs, different pricing behaviors of coal-fired power plants, electricity prices of renewable energy, and green electricity demand—on the stability of the game. In addition, the market equilibrium points that can be achieved by optimizing trading strategies and their optimization status in promoting renewable energy consumption are analyzed. Based on the operational characteristics of the Guangxi electricity market in China and the trading situation of renewable energy, an evolutionary game method is applied to conduct empirical research. The trading behavior and evolution of all parties in the market are fully analyzed and are then applied to the construction and mechanism improvement of the electricity market.

Keywords: evolutionary game; electricity market; stability analysis; renewable energy consumption (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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