Learn how the inclusion of a battery energy storage system (BESS) in a LEM model introduces greater flexibility and captures the implications on electricity costs along with grid export and import in this case study.
This paper evaluates the performance of peer-to-peer (P2P) trading in the local energy market (LEM) in comparison with business-as-usual (BAU), where the prosumers sell their excess generation via feed-in-tariff (FiT) and consumers buy energy from the grid.
The battery energy storage system (BESS) is also included in the LEM model to introduce greater flexibility and capture the implications on electricity costs along with grid export and import. A real Australian customer data is used in this case study and the results show that consumers reduce their average electricity costs. Case study demonstrates mitigation in congestion and lesser dependency on the grid and reducing or deferring capital expenses for network augmentation.
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Authors: Dr. Liaqat Ali, M. Imran Azim, Dr. Vivek Bhandari, Anand Menon, Vinod Tiwari, Dr Jemma Green, Jan Peters.
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