Cost-benefit analysis for proactive consumers in a microgrid for transactive energy management systems

Uzma Amin, M. J. Hossain, Junwei Lu, M. A. Mahmud

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contributionpeer-review

13 Citations (Scopus)

Abstract

This paper proposes the installation of a battery energy storage (BES) system along with a PV system in a hierarchical transactive energy management (TEM) framework to reduce consumer's electricity bills. An algorithm is developed to control the charging and discharging cycle of the proposed battery in a TEM system. A new cost benefit analysis (CBA) approach is presented for solar energy systems and combination of photovoltaic (PV) units and BES systems when these are installed in a proactive houses. Economic benefit analysis is based on real time electricity rate and battery cost to give an exact idea of returns and yearly savings to consumers on their investment. Real load and generation data are used for the analysis and based on the developed algorithm the appropriate battery size is determined. When it is integrated with a 4kW PV unit, it reduces the power mismatch between the load demand and solar generation. The result shows that proactive consumers can maximize their savings considerably on solar investment by installing BES systems.

Original languageEnglish
Title of host publicationProceedings of the 2016 Australasian Universities Power Engineering Conference, AUPEC 2016
Place of PublicationPiscataway, NJ
PublisherInstitute of Electrical and Electronics Engineers (IEEE)
Pages1-6
Number of pages6
ISBN (Electronic)9781509014057
DOIs
Publication statusPublished - 18 Nov 2016
Event2016 Australasian Universities Power Engineering Conference, AUPEC 2016 - Brisbane, Australia
Duration: 25 Sep 201628 Sep 2016

Other

Other2016 Australasian Universities Power Engineering Conference, AUPEC 2016
CountryAustralia
CityBrisbane
Period25/09/1628/09/16

Keywords

  • Battery energy storage system
  • Cost effective and grid connected
  • Photovoltaic generation
  • Tariff structure

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