State-of-the-art review on energy sharing and trading of resilient multi microgrids

State-of-the-art review on energy sharing and trading of resilient multi microgrids

April 19, 2024 | Abhishek Kumar, Arvind R. Singh, L. Phani Raghav, Yan Deng, Xiangning He, R.C. Bansal, Praveen Kumar, R.M. Naidoo
This review provides a comprehensive analysis of the challenges and state-of-the-art methodologies for energy sharing and trading in resilient multi-microgrid (MMG) systems. It examines the operational and financial benefits of integrating multiple microgrids to enhance smart distribution networks. The review discusses the techno-economic challenges of coordinating intermittent power generation within each microgrid network and explores contemporary strategies for energy markets that contribute to the resilience of power systems. It also highlights the role of blockchain technology in revolutionizing decentralized market frameworks and the intricacies of MMG coordination for reliable and cost-effective energy distribution. The review begins with an introduction to the background and motivation for the study, emphasizing the role of distributed energy resources in autonomous microgrid networks. It discusses the challenges faced by power distribution networks due to the increasing number of renewable-based microgrids and the need for robust information and communication technologies (ICTs) to support their operation. The review also covers the importance of cybersecurity protocols in protecting smart grids from cyber threats and the role of distributed sensors in gathering real-time data for grid performance monitoring. The review discusses the inception of multi-microgrids, highlighting their benefits in terms of flexible operation, reduced energy loss, and improved resilience. It also addresses the key aspects of market participation in MMG systems, emphasizing the need for coordination between microgrids and energy markets to optimize economic and operational benefits. The review explores various market participation approaches, including centralized and decentralized methods, and discusses the challenges and opportunities associated with energy trading between microgrids and the distribution network operator (DNO). The review also covers the use of blockchain technology in decentralized energy markets, highlighting its potential to enhance trust and transparency in energy trading. It discusses the application of game theory in decentralized approaches for energy trading, emphasizing the need for fair and efficient mechanisms to ensure optimal outcomes for all participants. The review concludes with a discussion on the future trends in MMG research, emphasizing the importance of developing new concepts for energy markets, scheduling, and operating models for future resilient multi-energy networked systems. The review provides a comprehensive overview of the current state of research in MMG systems, highlighting the challenges and opportunities in energy sharing and trading within resilient multi-microgrid networks.This review provides a comprehensive analysis of the challenges and state-of-the-art methodologies for energy sharing and trading in resilient multi-microgrid (MMG) systems. It examines the operational and financial benefits of integrating multiple microgrids to enhance smart distribution networks. The review discusses the techno-economic challenges of coordinating intermittent power generation within each microgrid network and explores contemporary strategies for energy markets that contribute to the resilience of power systems. It also highlights the role of blockchain technology in revolutionizing decentralized market frameworks and the intricacies of MMG coordination for reliable and cost-effective energy distribution. The review begins with an introduction to the background and motivation for the study, emphasizing the role of distributed energy resources in autonomous microgrid networks. It discusses the challenges faced by power distribution networks due to the increasing number of renewable-based microgrids and the need for robust information and communication technologies (ICTs) to support their operation. The review also covers the importance of cybersecurity protocols in protecting smart grids from cyber threats and the role of distributed sensors in gathering real-time data for grid performance monitoring. The review discusses the inception of multi-microgrids, highlighting their benefits in terms of flexible operation, reduced energy loss, and improved resilience. It also addresses the key aspects of market participation in MMG systems, emphasizing the need for coordination between microgrids and energy markets to optimize economic and operational benefits. The review explores various market participation approaches, including centralized and decentralized methods, and discusses the challenges and opportunities associated with energy trading between microgrids and the distribution network operator (DNO). The review also covers the use of blockchain technology in decentralized energy markets, highlighting its potential to enhance trust and transparency in energy trading. It discusses the application of game theory in decentralized approaches for energy trading, emphasizing the need for fair and efficient mechanisms to ensure optimal outcomes for all participants. The review concludes with a discussion on the future trends in MMG research, emphasizing the importance of developing new concepts for energy markets, scheduling, and operating models for future resilient multi-energy networked systems. The review provides a comprehensive overview of the current state of research in MMG systems, highlighting the challenges and opportunities in energy sharing and trading within resilient multi-microgrid networks.
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