ENERGY & STORAGE SHARING STRATEGIES IN AN ELECTRICITY MARKET ENVIRONMENT

Abstract

The rapid growth of renewable energy generation (REG) and energy storage systems (ESS) has created a need to further develop the electricity market for distributed energy, to stimulate the technology and application of REG and battery energy storage systems (BESS). Considering that the investment cost is still high at this stage, a window of opportunity exists for the development of a sharing economy. In light of this, this thesis focuses on energy and storage sharing strategies in an electricity market environment. A distributed energy sharing strategy is proposed for a peer-to-peer (P2P) model on a microgrid. In addition, the pricing model for users in this proposed strategy has been optimised using game theory—with the Bayesian Nash Equilibrium (GM-BNE) algorithm. Based on the basic call auction trading model, the energy trading mechanism has been modified. Meanwhile, an energy sharing cloud service is proposed based on a decentralised approach, in which the cloud energy management strategy can be customised for each participant. Rigorous proofs are also given. A detailed energy storage sharing strategy of the hybrid electricity and gas energy is proposed in the distribution network, which considers the energy operation of BESS and thermal energy storage system (TESS). The techno-economic analysis based on the BESS and TESS sizing model is conducted for storage sharing between users. When considering the battery firm in the joint storage sharing strategy, a novel sharing model is proposed based on the classic per-use sharing economy business model. Rigorous mathematical proofs are given for the application of the sharing economy model to BESS, in which the sharing pricing model is validated for technical feasibility and accuracy. The proposed energy and storage sharing strategies are applicable to distributed users, in the cases of the hospitality industry and smart home. The proposed sharing strategies are also beneficial for investors, as demonstrated in the case for a battery firm. In the case of the battery firm, this per-use rental service can open new benefits. The case studies results show that the proposed energy and storage sharing strategies provide a 'win-win' situation for customers, the battery sales firm and energy networks