Smart Energy Storage Sharing in Residential Buildings

The collection and storage of energy produced by renewables offer a promising method to help offset the threat of climate change. Residential rooftop solar panels present a great opportunity to use renewable energy. This study demonstrates how shared energy storage can reduce the total cost of using individual systems. Data from six residences in New York (USA) is used in a mathematical model to compare the billing costs for shared and individual solar systems. A structured control policy that uses time-varying electricity prices for each consumer to control consumers’ operational decisions based on optimal shared energy storage operations was conducted. Moreover, an interactive interface reveals side-by-side results to understand the behavior of each system. The results show the shared energy storage system reduces costs by up to 4.8% compared with the individual systems without shared energy storage.