CaltechAUTHORS
  A Caltech Library Service

An Energy Sharing Game With Generalized Demand Bidding: Model and Properties

Chen, Yue and Mei, Shengwei and Zhou, Fengyu and Low, Steven H. and Wei, Wei and Liu, Feng (2020) An Energy Sharing Game With Generalized Demand Bidding: Model and Properties. IEEE Transactions on Smart Grid, 11 (3). pp. 2055-2066. ISSN 1949-3053. https://resolver.caltech.edu/CaltechAUTHORS:20190626-132932886

[img] PDF - Submitted Version
See Usage Policy.

323Kb

Use this Persistent URL to link to this item: https://resolver.caltech.edu/CaltechAUTHORS:20190626-132932886

Abstract

This paper proposes a novel energy sharing mechanism for prosumers who can produce and consume. Different from most existing works, the role of individual prosumer as a seller or buyer in our model is endogenously determined. Several desirable properties of the proposed mechanism are proved based on a generalized game-theoretic model. We show that the Nash equilibrium exists and is the unique solution of an equivalent convex optimization problem. The sharing price at the Nash equilibrium equals to the average marginal disutility of all prosumers. We also prove that every prosumer has the incentive to participate in the sharing market, and prosumers’ total cost decreases with increasing absolute value of price sensitivity. Furthermore, the Nash equilibrium approaches the social optimal as the number of prosumers grows, and competition can improve social welfare.


Item Type:Article
Related URLs:
URLURL TypeDescription
https://doi.org/10.1109/tsg.2019.2946602 DOIArticle
https://arxiv.org/abs/1904.07829arXivDiscussion Paper
ORCID:
AuthorORCID
Chen, Yue0000-0002-7594-7587
Mei, Shengwei0000-0002-2757-5977
Zhou, Fengyu0000-0002-2639-6491
Low, Steven H.0000-0001-6476-3048
Wei, Wei0000-0002-1018-7708
Liu, Feng0000-0003-2279-2558
Alternate Title:An Energy Sharing Game in Prosumers based on Generalized Demand Bidding: Model and Properties
Additional Information:© 2019 IEEE. Manuscript received April 17, 2019; revised July 13, 2019 and September 6, 2019; accepted October 4, 2019. Date of publication October 10, 2019; date of current version April 21, 2020. This work was supported in part by the National Natural Science Foundation of China under Grant 51677100 and Grant 51621065, and in part by NSF under Grant CCF 1637598, Grant ECCS 1619352, and Grant CPS 1739355. Paper no. TSG-00571-2019.
Funders:
Funding AgencyGrant Number
National Natural Science Foundation of China51677100
National Natural Science Foundation of China51621065
NSFCCF-1637598
NSFECCS-1619352
NSFECCS-1739355
Subject Keywords:Energy sharing, game theory, Nash equilibrium, prosumer, supply-demand function
Issue or Number:3
Record Number:CaltechAUTHORS:20190626-132932886
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20190626-132932886
Official Citation:Y. Chen, S. Mei, F. Zhou, S. H. Low, W. Wei and F. Liu, "An Energy Sharing Game With Generalized Demand Bidding: Model and Properties," in IEEE Transactions on Smart Grid, vol. 11, no. 3, pp. 2055-2066, May 2020
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:96742
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:26 Jun 2019 20:51
Last Modified:22 Apr 2020 18:06

Repository Staff Only: item control page