LAPSE:2023.34617
Published Article

LAPSE:2023.34617
Impact of Forecasting Models Errors in a Peer-to-Peer Energy Sharing Market
April 27, 2023
Abstract
The use of energy sharing models in smart grids has been widely addressed in the literature. However, feasible technical solutions that can deploy these models into reality, as well as the correct use of energy forecasts are not properly addressed. This paper proposes a simple, yet viable and feasible, solution to deploy energy management systems on the end-user-side in order to enable not only energy forecasting but also a distributed discriminatory-price auction peer-to-peer energy transaction market. This work also analyses the impact of four energy forecasting models on energy transactions: a mathematical model, a support-vector machine model, an eXtreme Gradient Boosting model, and a TabNet model. To test the proposed solution and models, the system was deployed in five small offices and three residential households, achieving a maximum of energy costs reduction of 10.89% within the community, ranging from 0.24% to 57.43% for each individual agent. The results demonstrated the potential of peer-to-peer energy transactions to promote energy cost reductions and enable the validation of auction-based energy transactions and the use of energy forecasting models in today’s buildings and end-users.
The use of energy sharing models in smart grids has been widely addressed in the literature. However, feasible technical solutions that can deploy these models into reality, as well as the correct use of energy forecasts are not properly addressed. This paper proposes a simple, yet viable and feasible, solution to deploy energy management systems on the end-user-side in order to enable not only energy forecasting but also a distributed discriminatory-price auction peer-to-peer energy transaction market. This work also analyses the impact of four energy forecasting models on energy transactions: a mathematical model, a support-vector machine model, an eXtreme Gradient Boosting model, and a TabNet model. To test the proposed solution and models, the system was deployed in five small offices and three residential households, achieving a maximum of energy costs reduction of 10.89% within the community, ranging from 0.24% to 57.43% for each individual agent. The results demonstrated the potential of peer-to-peer energy transactions to promote energy cost reductions and enable the validation of auction-based energy transactions and the use of energy forecasting models in today’s buildings and end-users.
Record ID
Keywords
energy auctions, energy forecast, energy management systems, energy sharing, peer-to-peer energy transactions
Subject
Suggested Citation
Gomes L, Morais H, Gonçalves C, Gomes E, Pereira L, Vale Z. Impact of Forecasting Models Errors in a Peer-to-Peer Energy Sharing Market. (2023). LAPSE:2023.34617
Author Affiliations
Gomes L: GECAD—Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development, Polytechnic of Porto, 4200-072 Porto, Portugal [ORCID]
Morais H: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Department of Electrical and Computer Engineering, Instituto Superior Técnico—IST, Universidade de Lisboa, 1049-001 Lisboa, Portugal [ORCID]
Gonçalves C: GECAD—Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development, Polytechnic of Porto, 4200-072 Porto, Portugal
Gomes E: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Department of Electrical and Computer Engineering, Instituto Superior Técnico—IST, Universidade de Lisboa, 1049-001 Lisboa, Portugal; ITI/LARSyS—Interacti [ORCID]
Pereira L: ITI/LARSyS—Interactive Technologies Institute/Laboratory of Robotics and Engineering Systems, Instituto Superior Técnico—IST, Universidade de Lisboa, 1049-001 Lisboa, Portugal [ORCID]
Vale Z: GECAD—Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development, Polytechnic of Porto, 4200-072 Porto, Portugal [ORCID]
Morais H: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Department of Electrical and Computer Engineering, Instituto Superior Técnico—IST, Universidade de Lisboa, 1049-001 Lisboa, Portugal [ORCID]
Gonçalves C: GECAD—Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development, Polytechnic of Porto, 4200-072 Porto, Portugal
Gomes E: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Department of Electrical and Computer Engineering, Instituto Superior Técnico—IST, Universidade de Lisboa, 1049-001 Lisboa, Portugal; ITI/LARSyS—Interacti [ORCID]
Pereira L: ITI/LARSyS—Interactive Technologies Institute/Laboratory of Robotics and Engineering Systems, Instituto Superior Técnico—IST, Universidade de Lisboa, 1049-001 Lisboa, Portugal [ORCID]
Vale Z: GECAD—Research Group on Intelligent Engineering and Computing for Advanced Innovation and Development, Polytechnic of Porto, 4200-072 Porto, Portugal [ORCID]
Journal Name
Energies
Volume
15
Issue
10
First Page
3543
Year
2022
Publication Date
2022-05-12
ISSN
1996-1073
Version Comments
Original Submission
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PII: en15103543, Publication Type: Journal Article
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LAPSE:2023.34617
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https://doi.org/10.3390/en15103543
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