Energy Trading Possibilities in the Modern Multi-Carrier Energy Networks

Mohammadreza Daneshvar, Somayeh Asadi, Behnam Mohammadi-Ivatloo

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Nowadays, innovations in communication and information technologies along with the massive deployment of renewable energy resources (RERs) have developed the energy grid structure from a hierarchical system to a network-based deregulated environment with the aim of making it more appropriate for the modern architecture of the energy networks. This transformation raises significant challenges regarding the energy markets and operational issues due to the uncontrollable factors of the stochastic producers. Thereby, there is a pressing need for innovative solutions more than ever to overcome the mentioned challenges, which these solutions can be effectively adapted to the modern paradigm of the system. In this regard, energy trading possibilities between various entities provide an exceptional opportunity for vanquishing the high level of uncertainties caused by the ever-increasing penetration of RERs. Therefore, this chapter is focused on evaluating the different types of energy trading mechanisms for the future structure of hybrid energy networks. In this respect, different types of energy trading platforms are effectively evaluated, which encourage direct energy exchanging between peers considering the key technologies and elements involved in the energy sharing process. Finally, transactive multi-carrier energy technology is proposed as the end-to-end energy trading paradigm for the future modern multi-carrier energy networks to establish a dynamic energy balance in a reliable and sustainable manner. In the end, the Grid Modernization-Version I (GM-V1) model is proposed for the future modern multi-carrier energy networks (MCENs).

Original languageEnglish (US)
Title of host publicationPower Systems
PublisherSpringer Science and Business Media Deutschland GmbH
Pages175-214
Number of pages40
DOIs
StatePublished - 2021

Publication series

NamePower Systems
ISSN (Print)1612-1287
ISSN (Electronic)1860-4676

All Science Journal Classification (ASJC) codes

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

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