A Market-driven Approach for Unlocking Flexibility Potentials in Eco-Industrial Clusters
Year: 2024
Type: conference-paper
Abstract: To mitigate grid congestion during peak hours and leverage local flexibility through down-regulation, this study proposes a novel local flexibility market platform tailored for eco-industrial clusters. This platform facilitates theparticipation of industrial entities in the local flexibility market by identifying optimal flexible hours for down-regulation, thereby effectively engaging participants and enhancing market efficiency. A case study focusing on eco-industrial clusters with diverse load profiles within a Danish community is conducted, in connection with Danish wholesale aggregators DK1 and DK2. The study evaluates the cost savings achieved through fixed pricing, dynamic pricing, flexible markets, and flexible markets integrated with fixed and dynamic pricing, while also examining the impact of load elasticity on these savings. The results indicate that local flexibility markets can yield savings of 20.03% compared to fixed pricing and 11.29% compared to dynamic pricing.
Institutions: Aalborg University, Indian Institute of Technology Delhi
Language: English
Topic: Smart Grid Energy Management
Subfield: Electrical and Electronic Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: green
OpenAlex ID: W4406949484