Research Info

Home /Risk-based energy management ...
Title Risk-based energy management of industrial buildings in smart cities and peer-to-peer electricity trading using second-order stochastic dominance procedure
Type JournalPaper
Keywords Stochastic dominance Peer-to-peer trade Industrial area Electricity market Risk-neutral Risk-averse Shared storage
Abstract Generally, industrial consumers face various financial problems due to their high energy consumption. Because during the peak demand periods, the electricity power has its highest cost value. In this regard, the peer-to-peer electricity trading method is considered an industrial site that includes five interconnected buildings and is equipped with onsite flexibility and distributed energy resources (DERs). The regarded industrial site has been evaluated under three different case studies to optimize the system's performance in the electricity market against the financial risks. However, in the last case study that the shared storage unit is established, a risk evaluation method called stochastic dominance (SD) is applied to show the operation of the system in the risk-averse and risk-neutral models. According to the obtained results, 22% and 15% of the energy cost are deduced in the third case compared with the first and second case studies, respectively.
Researchers Sayyad Nojavan (Fifth Researcher), Esmaeil Valipour (Fourth Researcher), Dan Wang (Third Researcher), Tiantong Guo (Second Researcher), Peiru Jian (First Researcher)