A Bottom-Up Approach to Optimizing the Solar Organic Rankine Cycle for Transactive Energy Trading

TL;DR

This paper presents a bottom-up optimization methodology for solar Organic Rankine Cycle systems integrated with storage in microgrids, demonstrating a 16% reduction in operational costs within transactive energy trading frameworks.

Contribution

It introduces a novel operations research-based approach to optimize solar ORC systems with storage in microgrids for enhanced transactive energy trading performance.

Findings

16% average reduction in operational costs

Improved predictability and competitiveness of solar ORC systems

Effective integration of storage enhances system performance

Abstract

Solar Organic Rankine Cycle (ORC)-based power generation plants leverage solar irradiation to produce thermal energy, offering a highly compatible renewable technology due to the alignment between solar irradiation temperatures and ORC operating requirements. Their superior performance compared to steam Rankine cycles in small-scale applications makes them particularly relevant within the smart grid and microgrid contexts. This study explores the role of ORC in peer-to-peer (P2P) energy trading within renewable-based community microgrids, where consumers become prosumers, simultaneously producing and consuming energy while engaging in virtual trading at the distribution system level. Focusing on a microgrid integrating solar ORC with a storage system to meet consumer demand, the paper highlights the importance of combining these technologies with storage to enhance predictability and competitiveness with conventional energy plants, despite management challenges. A methodology based on operations research techniques is developed to optimize system performance. Furthermore, the impact of various technological parameters of the solar ORC on the system's performance is examined. The study concludes by assessing the value of solar ORC within the transactive energy trading framework across different configurations and scenarios. Results demonstrate an average 16\% reduction in operational costs, showcasing the benefits of implementing a predictable and manageable system in P2P transactive energy trading.