PEER-TO-PEER ROOFTOP PHOTOVOLTAIC ENERGY TRADING IN AN INDUSTRIAL PARK TO REDUCE GRID DEPENDENCY

Howard, Vincent (2023) PEER-TO-PEER ROOFTOP PHOTOVOLTAIC ENERGY TRADING IN AN INDUSTRIAL PARK TO REDUCE GRID DEPENDENCY. [Final Year Project Report] (Unpublished)

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Abstract

Rooftop PV systems is widely being used for alternative energy generation to promote implementation of renewable energy in Malaysia to reduce global greenhouse gas emissions. Our government introduced various regulatory tariff-based incentives to solar PV owners such as Feed-In Tariff and Nett Energy Metering scheme. However, this program has certain quota due to limited fund, therefore innovative solution is required to sustain the renewable energy generation. Peer-to-peer (P2P) energy trading is a decentralized system that allows individuals or businesses to buy and sell excess energy directly with one another, without the need for a central authority or intermediary. In an industrial park, P2P energy trading can be applied to reduce grid dependency by allowing businesses to sell their excess energy during times of high demand to another interconnected factory. This can help to reduce the demand on the power grid and lower overall energy costs for businesses. An optimization model using linear programming approach is implemented in this project to minimize the peak energy demand and cost of electricity in industrial site. The model of industrial site in a simulation framework under real-world scenario are proposed to study the interaction among peers to perform energy trading. Comparison between implementing P2P energy trading and normal power supply is conducted to study the benefits of P2P in an industrial park. The results demonstrate that P2P energy trading offers significant cost reduction compared to the feed-in system, with a 13% decrease in overall energy expenses. The participating factories are able to leverage their solar energy generation capacities and engage in import and export activities, contributing to a more balanced energy supply within the industrial zone. This collaborative approach not only leads to cost benefits but also supports grid stability by balancing supply and demand. Overall, this research highlights the potential of P2P energy trading as an effective strategy for reducing grid dependency and achieving cost savings in industrial settings. The findings provide valuable insights for policymakers, energy stakeholders, and industrial facilities considering the adoption of P2P trading systems.

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