Novel energy storage sharing business mode for prosumers

• Main Author: Tung, Yew Yu
• Other Authors: Gooi Hoay Beng
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2022
• Subjects: Engineering::Electrical and electronic engineering::Electric power
• Online Access: https://hdl.handle.net/10356/157925
• Institution: Nanyang Technological University

Energy storage is essential for local renewable energy utilization for prosumers. However, personal energy storage equipment is generally expensive. Another cheaper alternative is to develop an energy storage sharing plan in the communities or industrial parks. To explore the use of energy storage, there is a need to balance the cost saving of prosumers and higher return of investment by the investors of energy storage. There must be a reasonable storage sharing business structure to balance the energy benefits between storage investors and prosumers. The aim of the project is to investigate the motivations and necessities of energy storage sharing business before embarking on the design and comparison of possible business structure. This is to ensure that there is energy and cost efficiency before introducing to current era. Software simulations are used to test the efficiency of the business sharing structure.