Benefits of Distributed Energy and Storage System in Prosumer Based Electricity Market

Energy crisis, economic and environmental concerns have led the way to prosumer-based electricity market where consumers and utilities can participate in market operations for economic benefits. Distributed energy resources and energy storage on prosumer facilities can provide significant financial savings for the consumer and grid support for the utilities. This paper presents three scenarios of a consumer: (i) with only grid power (ii) with energy storage system (ESS) and photovoltaic generation (PV) generation along with grid power (iii) with ESS, PV and wind generation along with grid power. Linear programming is used for EES scheduling considering time of use (TOU) based tariff connection from the grid. MATLAB is used for simulation purposes. The results show significant savings in the energy cost paid by the prosumer with energy storage and distributed generation.