How can a microgrid reduce energy costs?

The considered cases include the microgrid without BESS, the microgrid with BESS operated using the heuristic approach based on power difference between generation sources and load demand, and the microgrid with BESS operated to minimize energy costs using the COA and particle swarm optimization (PSO) algorithms.

How do shared energy storage and multiple microgrid systems interact?

In characterizing the interplay between shared energy storage and multiple microgrid systems through co-operative game theory, a collaborative alliance emerges where shared energy storage and multiple microgrids engage in a co-operative game.

Is energy storage a profitable business model?

Although academic analysis finds that business models for energy storage are largely unprofitable, annual deployment of storage capacity is globally on the rise (IEA, 2020). One reason may be generous subsidy support and non-financial drivers like a first-mover advantage (Wood Mackenzie, 2019).

What is a microgrid model?

The microgrid model includes grid source, load, photovoltaic system (PVS), wind turbine (WT) and BESS that are built using the Simulink model based on model predictive control. The data of load, radiation, wind speed, and electricity price are updated every 15 min.

How is a microgrid system built?

The system model is built in Matlab and Simulink based on the model proposed by Ref . The entire microgrid system is built as shown in Fig. 5. The system has a voltage level of 22 kV, 50 Hz including load, PVS, WT and BESS connected to the grid through an intermediate transformer 5 km away from the connection point.

What is a microgrid trading strategy?

Cui et al. addressed energy trading competition among building clusters and devised a microgrid trading strategy based on non-co-operative game theory. This strategy considered the self-interest of each agent in the energy trading process and maximized the benefits for all participating agents.