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Risk Management of Energy Communities with Hydrogen Production and Storage Technologies

Abstract

The distributed integration of renewable energy sources plays a central role in the decarbonization of economies. In this regard, energy communities arise as a promising entity to coordinate groups of proactive consumers (prosumers) and incentivize investment on clean technologies. However, the uncertain nature of renewable energy generation, residential loads, and trading tariffs pose important challenges, both at the operational and economic levels. We study how this management can be directly undertaken by an arbitrageur that, making use of an adequate price-based demand response (real-time pricing) system, serves as an intermediary with the central electricity market to coordinate different types of prosumers under risk aversion. In particular, we consider a sequential futures and spot market where the aggregated shortage or excess of energy within the community can be traded. We aim to study the impact of new hydrogen production and storage technologies on community operation and risk management. These interactions are modeled as a game theoretical setting in the form of a stochastic two-stage bilevel optimization problem, which is later reformulated without approximation as a single-level mixed-integer linear problem (MILP). An extensive set of numerical experiments based on real data is performed to study the operation of the energy community under different technical and economical conditions. Results indicate that the optimal involvement in futures and spot markets is highly conditioned by the community’s risk aversion and self-sufficiency levels. Moreover, the external hydrogen market has a direct effect on the community’s internal price-tariff system, and depending on the market conditions, may worsen the utility of individual prosumers.

Funding source: The authors gratefully acknowledge the financial support from MCIN/AEI/10.13039/ 501100011033, project PID2020-116694GB-I00 and Wenxiu Feng also acknowledges the support from China Scholarship Council, China, Grant No. 202106890026. Funding for APC: Universidad Carlos III de Madrid (Read & Publish Agreement CRUE-CSIC 2023).
Related subjects: Safety
Countries: Spain
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/content/journal4810
2023-07-03
2024-06-25
/content/journal4810
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