What is it about?
The article presents an innovative framework for managing peak electricity demand by employing community battery storage (CBS) and dynamic pricing. A unique aspect of the study is the framework for sizing community battery storage, not just based on peak demand management, but also factoring in its realistic operational details. By developing a price-responsive model, the study captures how prosumers adjust their energy consumption patterns in reaction to dynamic pricing, ensuring the proposed battery sizes are both practical and efficient.
Featured Image
Photo by Fré Sonneveld on Unsplash
Why is it important?
Peak electricity demand, though infrequent, significantly influences energy costs and necessitates expensive infrastructure upgrades. By efficiently sizing and using community batteries alongside dynamic pricing, there's potential for considerable reductions in peak demand. Using high-accuracy simulations, we validate that this not only lowers electricity bills for end users but also increase revenue for electricity aggregators.
Perspectives
Community battery storage and dynamic tariff have recently gained significant traction in Australia. This makes our approach especially relevant and timely for the nation's evolving electricity landscape
Nam Trong Dinh
University of Adelaide
Read the Original
This page is a summary of: Cost-Effective Community Battery Sizing and Operation Within a Local Market Framework, IEEE Transactions on Energy Markets Policy and Regulation, January 2023, Institute of Electrical & Electronics Engineers (IEEE),
DOI: 10.1109/tempr.2023.3324798.
You can read the full text:
Contributors
The following have contributed to this page
