Autonomous and decentralised energy markets in smart DC microgrids

Abstract

Microgrids are gaining popularity due to their ability to integrate distributed renewable energy generation. In addition, direct current (DC) - based operation results in significantly higher operational efficiency. However, it exhibits energy drawbacks such as congestion, instability, and imbalances. Incorporating demand management through electricity markets governed by dynamic pricing presents a potential solution to these challenges. Concerns about unfair electricity pricing and uneven market power hinder electricity market adoption. This research aims to facilitate decentralised and transparent energy markets with a high-accuracy dynamic pricing scheme to address the critical arguments against current electricity markets.