Cost-aware renewable energy management: Centralized vs. distributed generation

Johann Leithon, Stefan Werner and Visa Koivunen

Renewable Energy, 2020, vol. 147, issue P1, 1164-1179

Abstract: We propose optimization strategies for cooperating households equipped with renewable energy assets and storage devices. We consider two system configurations: In the first configuration, households share access to an energy farm, where electricity is generated from renewable sources and stored in battery banks. In the second configuration, households are equipped with their own renewable energy sources and storage devices, and are allowed to share energy through the grid. The developed optimization model takes into account location and time-varying energy prices as well as energy transfer fees. To design our strategies, we first establish performance bounds, and compare the two configurations in terms of achievable savings and usability of renewable energy. Then, we devise real-time energy management algorithms by incorporating forecasting techniques in the proposed framework. Simulation results show that the proposed strategies outperform existing solutions by up to 10%. It is also shown that cooperative strategies outperform greedy approaches by up to 6.8%.

Keywords: Energy storage; Energy allocation; Cooperative strategies; Non-convex optimization (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960148119314089
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:147:y:2020:i:p1:p:1164-1179

DOI: 10.1016/j.renene.2019.09.077

Access Statistics for this article

Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides

More articles in Renewable Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().