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Energy Efficiency

, Volume 12, Issue 5, pp 1085–1104 | Cite as

Real-time pricing in environments with shared energy storage systems

  • Konstantinos SteriotisEmail author
  • Georgios Tsaousoglou
  • Nikolaos Efthymiopoulos
  • Prodromos Makris
  • Emmanouel (Manos) Varvarigos
Original Article

Abstract

A major challenge in modern energy markets is the utilization of energy storage systems (ESSs) in order to cope up with the difference between the time intervals that energy is produced (e.g., through renewable energy sources) and the time intervals that energy is consumed. Modern energy pricing schemes (e.g., real-time pricing) do not model the case that an energy service provider owns a shared ESS that its customers could take advantage of, even though a shared ESS is more efficient than the operation of many individual ESSs (i.e., personal ESS case). Thus, we propose a shared ESS aware real-time pricing model that achieves a very attractive tradeoff between the service provider’s and end user’s interests. We also compare our system with its predecessors and we witness its superiority. The proposed scheme allows energy consumers to use shared ESS and have cost-efficient energy services and in the same time they protect their interests (fair billing).

Keywords

Smart grids Demand response program Shared energy storage system Real-time pricing Energy consumption scheduling 

Notes

Funding

The work presented in this paper received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 731767 in the context of the SOCIALENERGY project.

Compliance with ethical standards

Conflict of interest

The authors declare that they have no conflict of interest.

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Copyright information

© Springer Nature B.V. 2018

Authors and Affiliations

  1. 1.Institute of Communication and Computer Systems, Department of Electrical and Computer EngineeringNational Technical University of AthensAthensGreece
  2. 2.Department of Electrical and Computer Systems EngineeringMonash UniversityMelbourneAustralia

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