Pareto-optimal energy sharing between battery-equipped renewable generators

TL;DR

This paper investigates optimal energy sharing strategies between two renewable generator-battery bundles, demonstrating the existence of mutually beneficial Pareto-optimal arrangements that maximize reliability and efficiency.

Contribution

It introduces a framework for Pareto-optimal energy sharing between renewable-battery bundles, highlighting the conditions for maximum benefit and demonstrating potential gains through case studies.

Findings

Mutually beneficial energy sharing arrangements always exist.

Pareto-optimal solutions involve maximum feasible energy transfer during deficits.

Dynamic sharing can significantly improve reliability and efficiency.

Abstract

The inherent intermittency of renewable sources like wind and solar has resulted in a bundling of renewable generators with storage resources (batteries) for increased reliability. In this paper, we consider the problem of energy sharing between two such bundles, each associated with their own demand profiles. The demand profiles might, for example, correspond to commitments made by the bundle to the grid. With each bundle seeking to minimize its loss of load rate, we explore the possibility that one bundle can supply energy to the other from its battery at times of deficit, in return for a reciprocal supply from the other when it faces a deficit itself. We show that there always exist \emph{mutually beneficial} energy sharing arrangements between the two bundles. Moreover, we show that Pareto-optimal arrangements involve at least one bundle transferring energy to the other at the maximum feasible rate at times of deficit. We illustrate the potential gains from such dynamic energy sharing via an extensive case study.