What is meter aggregation?

Put simply, meter aggregation is when one solar system is able to provide electricity to virtually offset multiple meters. Also known as virtual net metering, it makes it easier and more affordable for solar owners with multiple electricity meters to offset a greater percentage of their energy usage with solar.

How can VPPs reduce energy costs?

Economically, VPPs can lower energy costs for consumers by optimizing the use of distributed energy resources and reducing the need for expensive peak generation and grid upgrades. They enable better utilization of existing infrastructure and can defer or eliminate the need for new investments in transmission and distribution systems.

What is a power system aggregator?

This unified entity operates in power system markets, participating in both wholesale and retail transactions, as well as providing services to the operator. Essentially, an aggregator is a company that manages a VPP, which in turn is a collective assembly of DERs .

How do VPPs optimize bids in electricity markets?

VPPs can optimize their bids in electricity markets to maximize profits by considering factors such as demand forecasts, renewable energy production, and market prices . Successful bidding strategies are essential to secure profitable contracts and avoid financial losses.

How does a VPP calculate electricity cost?

The VPP negotiates with the energy supplier to purchase electricity at 0.10 €/kWh, with a standard consumption tariff of 0.15 €/kWh. The cost function for a producer A who consumes x A, consumed kWh and produces x A, produced kWh is given by: g A (x A) = (x A, consumed × purchase price) (x A, produced × feed-in tariff)

Do EVs balance the energy for the power grid and VPPs?

In addition, the EVs applied to balance the energy for the power grid and VPPs, are reviewed in , where different integration modes of EVs in the VPPs are also discussed including employing them as energy buffers similar to energy storage systems.