Dynamic Game of Microgrid Time-of-Use Electricity Prices

Does renewable generation-based dynamic pricing demand response influence the optimal microgrid configuration?

The focus of this work lies in a comprehensive exploration of the implications brought about by the Renewable Generation-Based Dynamic Pricing Demand Response (RGDP-DR) mechanism, particularly in terms of its influence on the optimal microgrid configuration, considering perspectives from end-users and the utility entity.

How do end-game prices affect a microgrid?

It is obvious that the end-game prices increase the profit of the MGO while decreasing the microgrid’s reliance on the utility grid. Fig. 13. Total buying, total selling, and net energies of the microgrid (i.e., PV-WT prosumers and PEV CSs) based on the end-game internal prices. Fig. 14.

What is a dynamic pricing model based on the Stackelberg game?

Huang et al. designed a dynamic pricing model based on the Stackelberg game, in which the energy service provider optimizes the planned output strategy and load curve of users considering its profit and the interests of users .

Does energy management strategy improve energy sharing in microgrids?

The energy management strategy proposed in this study presents a comprehensive solution capable of optimizing energy sharing in microgrids while taking into account end-users’ operational characteristics and network requirements.

How much does electricity cost in a microgrid?

The associated costs for electricity transactions in this microgrid scenario are as follows: purchasing electricity from the utility grid costs 0.20 $/kWh from midnight to 8 a.m., 0.50 $/kWh from 8 a.m. to 4 p.m., and 0.30 $/kWh from 4 p.m. to midnight, while selling electricity back to the utility is priced at 0.06685 $/kWh 45.

How accurate are energy management strategies for microgrids?

Most of the proposed energy management strategies for microgrids depend on the forecasted energy values, and therefore, the accuracy of the forecasting directly affects the output of these strategies on real-time applications.