A Novel Operational Model for Interconnected Microgrids Participation in Transactive Energy Market: A Hybrid IGDT/Stochastic Approach

Abstract

Recently, the decarbonization of the electric power system has led to substantial efforts for designing a pathway toward 100% renewable energy resources (RERs). In this article, we propose a novel operational model for the effective participation of the interconnected microgrids with 100% RERs in the transactive energy market. The novelty of the proposed model is mostly related to the use of transactive energy technology for developing the free energy trading environment for the microgrids with 100% RERs as the local energy-trading market to establish a dynamic energy balance in the system. To capture the intermittencies in the system, a hybrid version of the stochastic programming and information gap decision theory (IGDT) method with the risk-averse and risk-seeker strategies is proposed in the deregulated environment. The proposed model is validated by selecting the modified IEEE 14-bus test system. The results indicate the effectiveness of the proposed model in providing the same percentage of cost-saving for microgrids when they simultaneously participate in the transaction energy market. The cooperative energy interactions of the microgrids in the transactive energy market based on the proposed model lead to 18.34% cost-saving for them in comparison with the base model.