Energy Storage Strategy in a Non-Agent Energy Trading Platform: Energy Bank System

Lingling Sun; Xi Chen; Zhao Yang Dong; Ke Meng; Ling Qiu; Yuxing Cao

doi:10.1109/PESGM40551.2019.8973675

Energy Storage Strategy in a Non-Agent Energy Trading Platform: Energy Bank System

Lingling Sun^*
, Xi Chen
, Zhao Yang Dong
, Ke Meng
, Ling Qiu
, Yuxing Cao

^*Corresponding author for this work

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

3 Citations (Scopus)

Abstract

This paper addresses a strategy for distributed energy storage system (DESS) in a non-agent energy trading platform. This platform is based on the peer-to-peer (P2P) trading method. It is termed as energy bank system (EBS). The trading mechanism of EBS refers to the banking system and the BitCoin trading system. There is no requirement for users to participate in EBS. To make EBS suit various kinds of DESS, a coefficient of energy charging is defined as figure of distributed energy charging (FDEC). FDEC is processed in participant-side for the optimization energy management strategy. The conditional Value-at-Risk (CVaR) is used for analyzing the risk of FDEC management. The trading method of EBS is the call action method, and the trading mechanism follows the rule of maximum transaction volume. Case study is based on the real historical data in Australia electricity market considering the renewable distributed generation (RDG) system. Also, the economic analysis is discussed base on the simulation results. © 2019 IEEE.

Original language	English
Title of host publication	2019 IEEE Power & Energy Society General Meeting (PESGM)
Publisher	IEEE
ISBN (Electronic)	978-1-7281-1981-6
ISBN (Print)	978-1-7281-1982-3
DOIs	https://doi.org/10.1109/PESGM40551.2019.8973675
Publication status	Published - Aug 2019
Externally published	Yes
Event	2019 IEEE Power and Energy Society General Meeting (PESGM 2019) - Atlanta, United States Duration: 4 Aug 2019 → 8 Aug 2019

Publication series

Name	IEEE Power and Energy Society General Meeting
ISSN (Print)	1944-9925
ISSN (Electronic)	1944-9933

Conference

Conference	2019 IEEE Power and Energy Society General Meeting (PESGM 2019)
Place	United States
City	Atlanta
Period	4/08/19 → 8/08/19

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 17 Partnerships for the Goals

Research Keywords

electricity trading
energy bank system
energy storage system

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10.1109/PESGM40551.2019.8973675

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Cite this

@inproceedings{ca687cf1fd254dc886084bd4b9cdd191,

title = "Energy Storage Strategy in a Non-Agent Energy Trading Platform: Energy Bank System",

abstract = "This paper addresses a strategy for distributed energy storage system (DESS) in a non-agent energy trading platform. This platform is based on the peer-to-peer (P2P) trading method. It is termed as energy bank system (EBS). The trading mechanism of EBS refers to the banking system and the BitCoin trading system. There is no requirement for users to participate in EBS. To make EBS suit various kinds of DESS, a coefficient of energy charging is defined as figure of distributed energy charging (FDEC). FDEC is processed in participant-side for the optimization energy management strategy. The conditional Value-at-Risk (CVaR) is used for analyzing the risk of FDEC management. The trading method of EBS is the call action method, and the trading mechanism follows the rule of maximum transaction volume. Case study is based on the real historical data in Australia electricity market considering the renewable distributed generation (RDG) system. Also, the economic analysis is discussed base on the simulation results. {\textcopyright} 2019 IEEE.",

keywords = "electricity trading, energy bank system, energy storage system",

author = "Lingling Sun and Xi Chen and Dong, \{Zhao Yang\} and Ke Meng and Ling Qiu and Yuxing Cao",

year = "2019",

month = aug,

doi = "10.1109/PESGM40551.2019.8973675",

language = "English",

isbn = "978-1-7281-1982-3",

series = "IEEE Power and Energy Society General Meeting",

publisher = "IEEE",

booktitle = "2019 IEEE Power \& Energy Society General Meeting (PESGM)",

address = "United States",

note = "2019 IEEE Power and Energy Society General Meeting (PESGM 2019) ; Conference date: 04-08-2019 Through 08-08-2019",

}

Sun, L, Chen, X, Dong, ZY, Meng, K, Qiu, L & Cao, Y 2019, Energy Storage Strategy in a Non-Agent Energy Trading Platform: Energy Bank System. in 2019 IEEE Power & Energy Society General Meeting (PESGM). IEEE Power and Energy Society General Meeting, IEEE, 2019 IEEE Power and Energy Society General Meeting (PESGM 2019), Atlanta, Georgia, United States, 4/08/19. https://doi.org/10.1109/PESGM40551.2019.8973675

Energy Storage Strategy in a Non-Agent Energy Trading Platform: Energy Bank System. / Sun, Lingling; Chen, Xi; Dong, Zhao Yang et al.
2019 IEEE Power & Energy Society General Meeting (PESGM). IEEE, 2019. (IEEE Power and Energy Society General Meeting).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

TY - GEN

T1 - Energy Storage Strategy in a Non-Agent Energy Trading Platform

T2 - 2019 IEEE Power and Energy Society General Meeting (PESGM 2019)

AU - Sun, Lingling

AU - Chen, Xi

AU - Dong, Zhao Yang

AU - Meng, Ke

AU - Qiu, Ling

AU - Cao, Yuxing

PY - 2019/8

Y1 - 2019/8

N2 - This paper addresses a strategy for distributed energy storage system (DESS) in a non-agent energy trading platform. This platform is based on the peer-to-peer (P2P) trading method. It is termed as energy bank system (EBS). The trading mechanism of EBS refers to the banking system and the BitCoin trading system. There is no requirement for users to participate in EBS. To make EBS suit various kinds of DESS, a coefficient of energy charging is defined as figure of distributed energy charging (FDEC). FDEC is processed in participant-side for the optimization energy management strategy. The conditional Value-at-Risk (CVaR) is used for analyzing the risk of FDEC management. The trading method of EBS is the call action method, and the trading mechanism follows the rule of maximum transaction volume. Case study is based on the real historical data in Australia electricity market considering the renewable distributed generation (RDG) system. Also, the economic analysis is discussed base on the simulation results. © 2019 IEEE.

AB - This paper addresses a strategy for distributed energy storage system (DESS) in a non-agent energy trading platform. This platform is based on the peer-to-peer (P2P) trading method. It is termed as energy bank system (EBS). The trading mechanism of EBS refers to the banking system and the BitCoin trading system. There is no requirement for users to participate in EBS. To make EBS suit various kinds of DESS, a coefficient of energy charging is defined as figure of distributed energy charging (FDEC). FDEC is processed in participant-side for the optimization energy management strategy. The conditional Value-at-Risk (CVaR) is used for analyzing the risk of FDEC management. The trading method of EBS is the call action method, and the trading mechanism follows the rule of maximum transaction volume. Case study is based on the real historical data in Australia electricity market considering the renewable distributed generation (RDG) system. Also, the economic analysis is discussed base on the simulation results. © 2019 IEEE.

KW - electricity trading

KW - energy bank system

KW - energy storage system

UR - https://www.scopus.com/pages/publications/85079067914

UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85079067914&origin=recordpage

U2 - 10.1109/PESGM40551.2019.8973675

DO - 10.1109/PESGM40551.2019.8973675

M3 - RGC 32 - Refereed conference paper (with host publication)

SN - 978-1-7281-1982-3

T3 - IEEE Power and Energy Society General Meeting

BT - 2019 IEEE Power & Energy Society General Meeting (PESGM)

PB - IEEE

Y2 - 4 August 2019 through 8 August 2019

ER -

Energy Storage Strategy in a Non-Agent Energy Trading Platform: Energy Bank System

Abstract

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