Local energy trading in a community micro-grid

• Main Author: Chan, Adriel Chun Whye
• Other Authors: Gooi Hoay Beng
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2020
• Subjects: Engineering::Electrical and electronic engineering::Electric power::Production, transmission and distribution
• Online Access: https://hdl.handle.net/10356/139908
• Institution: Nanyang Technological University

In this report, we focus on recreating an incremental welfare consensus algorithm to calculate the optimal price of electricity for users in a grid with multiple consumers and producers. The algorithm functions in place of a central coordinator that is normally required and used to price electricity. Two algorithms were recreated; one to obtain data using a method requiring the use of a central coordinator to calculate the optimal price of electricity, and one implementing the IWC algorithm to calculate the optimal price of electricity without a central coordinator i.e. the consumers/producers coordinate among themselves to find the optimal price. The main points of data gathered were each consumer/producer unit’s power demand or generation, and the optimal price of electricity. Data analysis was done using pandas, and output via .csv file for plotting in Microsoft Excel.