Continuous optimization — The stock exchange model for energy prices

The overall goal for the operation of UESP systems is to ensure continuous power supply to the loads while minimizing the total operation cost, including fuel, maintenance and replacement. Therefore each component transmits periodically cost functions of its production (offer) or consumption (demand) (i. e. price per Wh). Optionally forecasts for the production from fluctuating sources will be generated. One major mechanism within the energy management system is a stock exchange model for economic optimization where from all these functions a market price is determined. The current price then leads to the actual share of power between components which is given back to them as set point.

PV Generator

Asset Management

Load

Energy Management

Battery

Wind Generator Diesel Generator

Fig. 2: Extended UESP System with additional generators to supply increased energy demand

2. Main advantages of UESP and their technical background

• Flexibility and Extendibility

Plug-and-Play principle, adaptation to demand, no programming nor parameter set-up necessary, supports all kinds of (future-) components

• Reliability

Mount-and-Forget principle, detailed system’s health determination, remote monitoring capabilities

• Operation and Maintenance (Lifetime cost)

Least cost operation, fuel saving, extending lifetime, maintenance planning

• Investment Cost (Components and Installation)

Competitive to conventional systems