Risk-averse stochastic capacity planning and P2P trading collaborative optimization for multi-energy microgrids considering carbon emission limitations: An asymmetric Nash bargaining approach

Zhuo Wang, Hui Hou, Bo Zhao, Leiqi Zhang, Ying Shi and Changjun Xie

Applied Energy, 2024, vol. 357, issue C, No S030626192301869X

Abstract: The increasing penetration of renewable energy with stochastic characteristics and continuous refinement of carbon emission policies put forward higher requirements for the construction of new power systems. This paper proposes a risk-averse stochastic capacity planning and peer-to-peer (P2P) trading collaborative optimization method for multi-energy microgrids (MEMGs) considering carbon emission limitations. First, a cooperative operation model for MEMGs considering the capacity planning of distributed generation units, uncertainty from renewable energy generations, carbon emission limitations and P2P electricity trading among MEMGs is formulated. Second, a risk-averse stochastic programming method is applied to avoid the potential risk losses caused by randomness and intermittence of renewable energy. Third, an asymmetric Nash bargaining approach is adopted to ensure the fair allocation of benefits and maintain the willingness of individual MEMGs to participate in cooperation. Then, to protect the privacy of individual MEMGs belonging to different stakeholders, the alternating direction method of multipliers is used to solve the two subproblems in a distributed manner. Meanwhile, to further alleviate the computation burdens, a diagonal quadratic approximation method is applied to linearize the quadratic penalty term in the augmented Lagrangian function and realize the parallel solution of all optimization subproblems. Moreover, the influence of different carbon emission targets on the optimal resource combination strategy of the system is investigated by introducing carbon emission factors. Simulations on different models, strategies, and distributed algorithms are conducted to verify the effectiveness and superiority of the proposed method.

Keywords: Multi-energy microgrids (MEMGs); Peer-to-peer (P2P) trading; Asymmetric Nash bargaining; Risk-averse stochastic programming; Carbon emissions (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (4)

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DOI: 10.1016/j.apenergy.2023.122505

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