1 research outputs found
Peer-to-Peer Sharing of Energy Storage Systems under Net Metering and Time-of-Use Pricing
Sharing economy has become a socio-economic trend in transportation and
housing sectors. It develops business models leveraging underutilized
resources. Like those sectors, power grid is also becoming smarter with many
flexible resources, and researchers are investigating the impact of sharing
resources here as well that can help to reduce cost and extract value. In this
work, we investigate sharing of energy storage devices among individual
households in a cooperative fashion. Coalitional game theory is used to model
the scenario where utility company imposes time-of-use (ToU) price and net
metering billing mechanism. The resulting game has a non-empty core and we can
develop a cost allocation mechanism with easy to compute analytical formula.
Allocation is fair and cost effective for every household. We design the price
for peer to peer network (P2P) and an algorithm for sharing that keeps the
grand coalition always stable. Thus sharing electricity of storage devices
among consumers can be effective in this set-up. Our mechanism is implemented
in a community of 80 households in Texas using real data of demand and solar
irradiance and the results show significant cost savings for our method