Being a member of an energy community: Assessing the financial benefits for end-users and management authority

Panagiotou, Konstantina; Klumpner, Christian; Sumner, Mark

Abstract

Since 2011, in the context of sustainable development, UK government has been encouraging individuals to work as groups, and now, more than 5,000 community led projects are sprouted across the country, since more than 50% of the UK citizens had expressed their interest to get involved with energy communities if they can potentially reduce their electricity cost. The aim of this study is to quantify the financial benefits for end-users and energy management authority when an energy community is settled up. By simulating possible operating scenarios and by observing and assuming a cost effective power flow/exchange between the individuals, the communal energy storage and the power grid, the finances of each scenario were quantified. Consequently, the electricity cost for the end-users and the incomes for the management authority were monitored and the most financially suitable community energy storage along with the PV penetration were identified.

Citation

Panagiotou, K., Klumpner, C., & Sumner, M. (2017). Being a member of an energy community: Assessing the financial benefits for end-users and management authority. In 2017 IEEE 26th International Symposium on Industrial Electronics (ISIE) (957-963). https://doi.org/10.1109/ISIE.2017.8001375

• Conference Name: 2017 IEEE International Symposium on Industrial Electronics (ISIE)
• Conference Location: Edinburgh, UK
• Start Date: Jun 19, 2017
• End Date: Jun 21, 2017
• Acceptance Date: Mar 13, 2017
• Online Publication Date: Aug 7, 2017
• Publication Date: 2017
• Deposit Date: May 10, 2017
• Publicly Available Date: Aug 7, 2017
• Electronic ISSN: 2163-5145
• Peer Reviewed: Peer Reviewed
• Pages: 957-963
• Series ISSN: 2163-5145
• Book Title: 2017 IEEE 26th International Symposium on Industrial Electronics (ISIE)
• ISBN: 978-1-5090-1413-2
• DOI: https://doi.org/10.1109/ISIE.2017.8001375
• Public URL: https://nottingham-repository.worktribe.com/output/876794
• Publisher URL: http://ieeexplore.ieee.org/abstract/document/8001375/
• Related Public URLs: http://isie2017.org/
• Additional Information: ISSN 2163-5145 © 2017 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.