- Title
- A real-time pricing scheme for residential energy systems using a market maker
- Creator
- Braun, Philipp; Gruene, Lars; Kellett, Christopher M.; Weller, Steven R.; Worthmann, Karl
- Relation
- 2015 Australian Control Conference (AUCC 2015). Proceedings of the 2015 5th Australian Control Conference (AUCC) (Gold Coast, Australia 05-06 November, 2015) p. 259-262
- Relation
- http://ieeexplore.ieee.org/document/7361944/?reload=true&arnumber=7361944
- Publisher
- Engineers Australia
- Resource Type
- conference paper
- Date
- 2015
- Description
- Voltage rise is an undesirable side-effect of solar photovoltaic (PV) generation, arising from the flow of surplus electrical power back into the grid when PV generation exceeds local demand. Customers deploying residential-scale battery storage are likely to further exacerbate voltage rise problems for electrical utilities unless the charge/discharge schedules of batteries are appropriately coordinated. In this paper, we present a real-time pricing mechanism for use in a network of distributed residential energy systems (RESs), each employing solar PV generation and battery storage. The pricing mechanism proposed in this paper is based on a Market Maker algorithm in which predicted power profiles and real-time pricing information is iteratively exchanged between a central entity and each of the RESs. The Market Maker formulation presented in this paper is shown via simulation studies to converge to a fixed price vector, thereby reducing the price volatility observed in an earlier formulation, while achieving the same reduction in power usage variability as a centralised model predictive control (MPC) scheme presented previously.
- Subject
- solar photovoltaic generation; pricing mechanism; performance metrics; residential energy systems
- Identifier
- http://hdl.handle.net/1959.13/1323248
- Identifier
- uon:24760
- Identifier
- ISBN:9781467395526
- Language
- eng
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