"Energy Red Packet" Incentive-based Bidding Mechanism and Its Benefit Sharing in the Transactive Energy Market

  • Shiyu Liu
  • , Zhenyu Zhang
  • , Xin Liu
  • , Yanzhe Ren
  • , Haoyuan Wang
  • , Mingfeng Xue
  • , Zhengyong Wu
  • , Zhaohong Bie

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

1 Scopus citations

Abstract

In order to accommodate redundant renewable energy during load valley periods within an industrial park, this paper proposes the "energy red packet" incentive-based bidding mechanism to strategically motivate industrial electric power and heat consumers to get demand response autonomously. A benefit sharing mechanism is designed based on the Shapley value method to give participants bonuses regarding their contribution to the system cost savings within the industrial park. A realistic case in China is studied to verify that the proposed mechanisms are able to utilize resources most efficiently and give the DR participants their bonuses allocated in a fair manner.

Original languageEnglish
Title of host publication5th IEEE Conference on Energy Internet and Energy System Integration
Subtitle of host publicationEnergy Internet for Carbon Neutrality, EI2 2021
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages3592-3597
Number of pages6
ISBN (Electronic)9781665434256
DOIs
StatePublished - 2021
Event5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021 - Taiyuan, China
Duration: 22 Oct 202125 Oct 2021

Publication series

Name5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021

Conference

Conference5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021
Country/TerritoryChina
CityTaiyuan
Period22/10/2125/10/21

Keywords

  • benefit shari ng
  • demand response
  • Incentive-based
  • Shapley value

Fingerprint

Dive into the research topics of '"Energy Red Packet" Incentive-based Bidding Mechanism and Its Benefit Sharing in the Transactive Energy Market'. Together they form a unique fingerprint.

Cite this