Time-of-Use Tariff with Local Wind Generation
Conference paper
Estebsari, A., Gillich, A. and Rajabi, R. (2023). Time-of-Use Tariff with Local Wind Generation. IEEE 23rd International Conference on Environment and Electrical Engineering (EEEIC). Madrid 06 - 09 Jun 2023 Institute of Electrical and Electronics Engineers (IEEE). https://doi.org/10.1109/EEEIC/ICPSEurope57605.2023.10194842
Authors | Estebsari, A., Gillich, A. and Rajabi, R. |
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Type | Conference paper |
Abstract | Renewable energy, such as wind power, is known to significantly reduce system costs and carbon emissions. However, traditional Time of Use (ToU) tariffs fail to account for local energy generation. To overcome this limitation, we propose a mechanism for calculating new ToU tariffs that incorporates Agile ToU and local energy resources, such as a wind farm. By partially supplying local consumption, wind energy can reduce electricity costs for consumers and encourage load shifting towards peak renewable energy production periods. We demonstrate the effectiveness of the proposed mechanism by testing it on a case study of a residential area in Wales, UK, where electricity would be partially supplied by a nearby wind farm with 5 turbines through a Power Purchase Agreement (PPA). The results show that the new tariff significantly reduces electricity bills. |
Year | 2023 |
Publisher | Institute of Electrical and Electronics Engineers (IEEE) |
Digital Object Identifier (DOI) | https://doi.org/10.1109/EEEIC/ICPSEurope57605.2023.10194842 |
Accepted author manuscript | License File Access Level Open |
Publication dates | |
03 Aug 2023 | |
Publication process dates | |
Accepted | May 2023 |
Deposited | 10 Aug 2023 |
Additional information | © © 2023 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 |
https://openresearch.lsbu.ac.uk/item/94qqy
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