Allocation of Physical Storage Rights in Local Energy Communities
- Resource Type
- Conference
- Authors
- Aprajita; Patwari, Shubham; Sharma, Satish
- Source
- 2022 IEEE 10th Power India International Conference (PIICON) Power India International Conference (PIICON), 2022 IEEE 10th. :1-6 Nov, 2022
- Subject
- Components, Circuits, Devices and Systems
Computing and Processing
Engineered Materials, Dielectrics and Plasmas
Engineering Profession
Fields, Waves and Electromagnetics
General Topics for Engineers
Power, Energy and Industry Applications
Robotics and Control Systems
Signal Processing and Analysis
Transportation
Data privacy
Uncertainty
Resource management
Game theory
Energy storage
physical storage rights
local energy community
day-ahead market
- Language
- ISSN
- 2642-5289
The concept of physical storage rights (PSRs) enables the use of energy storage assets without owning them physically. This paper studies the allocation of PSRs among the members of a local energy community. PSRs are sold by storage owners and provide paid access to the storage assets to the local community members for a specific time. The members can reserve storage as PSRs and then utilize it as their requirements. The authors have assumed PSRs trading in a day-ahead market among arbitrageurs, wind producers, consumers, and prosumers as community members. The numerical research consists of observation of the system while varying the players and number of storage units. The amount of PSRs bought by each player depends upon his own generation/consumption profile and availability of storage capacity. The results demonstrate that the system profit increases as more participants and storage units are added. Consequently, the storage owner made as much money selling PSRs in the day-ahead market as from regular market participants without payout uncertainty.