Energy scheduling of grid tied photovoltaic-wind-diesel-battery hybrid system for load management under real-time pricing mechanism using game theory
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Abstract
Integration of renewable distributed generations at the customer end has been proved to be successful for meeting today’s exponentially growing energy demand in order to control the adverse effects of fossil fuel-fed energy sources. But inapt integration of renewable sources into electricity markets may lead to some prominent techno-economic challenges. There is a significant connection between the consumers and suppliers behavior along with their profits in the electricity markets. So, the optimal planning of power supply sources is increasingly becoming the area of interest for contemporary researchers. This paper presents a sophisticated system model and game theory methodology for determining the optimum electricity clearance price in the grid hourly, to maximize the system's best reliability for consumers and suppliers. It is found that an appropriate contribution of power supply sources results in significant benefits to suppliers and consumers.
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