Energy Storage Sharing for Multiple Services Provision: A Computable Combinatorial Auction Design

Given the profound integration of the sharing economy and the energy system, energy storage sharing is promoted as a viable solution to address the underutilization of energy storage and the challenges associated with cost recovery. While energy storage sharing offers various services for system ope...

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Bibliographic Details
Published in:Sustainability 2023-08, Vol.15 (16), p.12314
Main Authors: Wei, Bo, Liu, Wenfei, Shao, Chong, Yang, Yong, Su, Yanbing, Wu, Zhaoyuan
Format: Article
Language:English
Subjects:
Algorithms
Alternative energy sources
Business models
Cost recovery
Design
Energy industry
Energy management systems
Energy resources
Energy storage
Linear programming
Payback periods
Supply & demand
Sustainability
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Summary:Given the profound integration of the sharing economy and the energy system, energy storage sharing is promoted as a viable solution to address the underutilization of energy storage and the challenges associated with cost recovery. While energy storage sharing offers various services for system operation, a significant question remains regarding the development of an optimal allocation model for shared energy storage in diverse application scenarios and the proposal of efficient solving algorithms. This paper presents the design of a computable combinatorial mechanism aimed at facilitating energy storage sharing. Leveraging the distinct characteristics of buyers and sellers engaged in energy storage sharing, we propose a combinatorial auction solving algorithm that prioritizes and incorporates the offers of shared energy storage, accounting for temporal variations in the value of energy resources. The numerical results demonstrate that the proposed solving algorithm achieves a computation time reduction of over 95%, adequately meeting the practical requirements of industrial applications. Importantly, the proposed method maintains a high level of computational accuracy, ranging from 92% to 98%, depending on the participants and application scenarios. Hopefully, our work is able to provide a useful reference for the further mechanism design for energy storage sharing.
ISSN:2071-1050
2071-1050
DOI:10.3390/su151612314