Novel Conceptual Architecture for the Next-Generation Electricity Markets to Enhance a Large Penetration of Renewable Energy

Javier Rodríguez-García, David Ribó-Pérez, Carlos Álvarez-Bel and Elisa Peñalvo-López
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Javier Rodríguez-García: Universitat Politècnica de València, Institute for Energy Engineering, Camino de Vera s/n, edificio 8E, escalera F, 5ª planta, València 46022, Spain
David Ribó-Pérez: Universitat Politècnica de València, Institute for Energy Engineering, Camino de Vera s/n, edificio 8E, escalera F, 5ª planta, València 46022, Spain
Carlos Álvarez-Bel: Universitat Politècnica de València, Institute for Energy Engineering, Camino de Vera s/n, edificio 8E, escalera F, 5ª planta, València 46022, Spain
Elisa Peñalvo-López: Universitat Politècnica de València, Institute for Energy Engineering, Camino de Vera s/n, edificio 8E, escalera F, 5ª planta, València 46022, Spain

Energies, 2019, vol. 12, issue 13, 1-23

Abstract: A transition to a sustainable energy system is essential. In this context, smart grids represent the future of power systems for efficiently integrating renewable energy sources and active consumer participation. Recently, different studies were performed that defined the conceptual architecture of power systems and their agents. However, these conceptual architectures do not overcome all issues for the development of new electricity markets. Thus, a novel conceptual architecture is proposed. The transactions of energy, operation services, and economic flows among the agents proposed are carefully analysed. In this regard, the results allow setting their activities’ boundaries and state their relationships with electricity markets. The suitability of implementing local electricity markets is studied to enforce competition among distributed energy resources by unlocking all the potential that active consumers have. The proposed architecture is designed to offer flexibility and efficiency to the system thanks to a clearly defined way for the exploitation of flexible resources and distributed generation. This upgraded architecture hereby proposed establishes the characteristics of each agent in the forthcoming markets and studies to overcome the barriers to the large deployment of renewable energy sources.

Keywords: Electricity markets; power system; conceptual architecture; distributed generation; flexible resources; local electricity markets (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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