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Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading

The evolution of renewable energy (RE) production has ushered in an era of increased efficiency and accessibility. Yet, the transition from generation to utilization presents challenges, particularly in terms of tracking and matching energy supply with consumer demand. This inefficiency hi...

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Main Authors: Abdullah Azahari, Abdul Aziz, Mohamad Hanif, Noor Hazrin Hany, Mohamed, Martina Muhaizira
Format: Proceeding Paper
Language:English
English
Published: IEEE 2024
Subjects:
TK Electrical engineering. Electronics Nuclear engineering
Online Access:http://irep.iium.edu.my/114775/7/114775_%20Analysing%20ratio-based%20controllers.pdf
http://irep.iium.edu.my/114775/8/114775_%20Analysing%20ratio-based%20controllers_Scopus.pdf
http://irep.iium.edu.my/114775/
https://ieeexplore.ieee.org/document/10652448
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spelling my.iium.irep.1147752024-10-01T08:20:59Z http://irep.iium.edu.my/114775/ Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading Abdullah Azahari, Abdul Aziz Mohamad Hanif, Noor Hazrin Hany Mohamed, Martina Muhaizira TK Electrical engineering. Electronics Nuclear engineering The evolution of renewable energy (RE) production has ushered in an era of increased efficiency and accessibility. Yet, the transition from generation to utilization presents challenges, particularly in terms of tracking and matching energy supply with consumer demand. This inefficiency highlights the need for a sophisticated controller equipped with optimal algorithms. Thus, the aim of this research is to design proper models for peer-to-peer trading algorithms for RE to address these inefficiencies. Two controllers were used in this research work. The first controller uses an algorithm that distributes energy production based on the ratio of energy generated to energy demand, with the aim of minimizing wasted energy. A comparative analysis is conducted against a second controller employing a Motivational Game Theory (MGT) algorithm that incorporates prioritization of energy distribution based on price adjustments. The study evaluates the levels of unutilized energy and profit gains achieved by each controller. Results show that in scenarios where energy demand surpasses production, both the MGT based and ratio-based controllers display similar levels of unutilized energy. However, the MGT-based controller proves higher profitability compared to its ratio-based counterpart. During peak hours, the MGT-based controller was able to record 9% more profit than ratio-based controller. Alternatively, in situations where production exceeds demand, the MGT-based controller records lower levels of unutilized energy while keeping superior financial performance. MGTbased controller can use 60% more energy produced than ratiobased controller. This study highlights that with suitable control algorithms such as ratio-based controller and the motivational game theory, the potential of peer-to-peer energy trading could be enhanced, by optimizing the utilities of renewable energy, minimize wastage, and boost profitability. IEEE 2024-09-04 Proceeding Paper PeerReviewed application/pdf en http://irep.iium.edu.my/114775/7/114775_%20Analysing%20ratio-based%20controllers.pdf application/pdf en http://irep.iium.edu.my/114775/8/114775_%20Analysing%20ratio-based%20controllers_Scopus.pdf Abdullah Azahari, Abdul Aziz and Mohamad Hanif, Noor Hazrin Hany and Mohamed, Martina Muhaizira (2024) Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading. In: 2024 9th International Conference on Mechatronics Engineering (ICOM), 13-14 August 2024, Kuala Lumpur, Malaysia. https://ieeexplore.ieee.org/document/10652448 10.1109/ICOM61675.2024.10652448
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic TK Electrical engineering. Electronics Nuclear engineering
spellingShingle TK Electrical engineering. Electronics Nuclear engineering
Abdullah Azahari, Abdul Aziz
Mohamad Hanif, Noor Hazrin Hany
Mohamed, Martina Muhaizira
Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
description The evolution of renewable energy (RE) production has ushered in an era of increased efficiency and accessibility. Yet, the transition from generation to utilization presents challenges, particularly in terms of tracking and matching energy supply with consumer demand. This inefficiency highlights the need for a sophisticated controller equipped with optimal algorithms. Thus, the aim of this research is to design proper models for peer-to-peer trading algorithms for RE to address these inefficiencies. Two controllers were used in this research work. The first controller uses an algorithm that distributes energy production based on the ratio of energy generated to energy demand, with the aim of minimizing wasted energy. A comparative analysis is conducted against a second controller employing a Motivational Game Theory (MGT) algorithm that incorporates prioritization of energy distribution based on price adjustments. The study evaluates the levels of unutilized energy and profit gains achieved by each controller. Results show that in scenarios where energy demand surpasses production, both the MGT based and ratio-based controllers display similar levels of unutilized energy. However, the MGT-based controller proves higher profitability compared to its ratio-based counterpart. During peak hours, the MGT-based controller was able to record 9% more profit than ratio-based controller. Alternatively, in situations where production exceeds demand, the MGT-based controller records lower levels of unutilized energy while keeping superior financial performance. MGTbased controller can use 60% more energy produced than ratiobased controller. This study highlights that with suitable control algorithms such as ratio-based controller and the motivational game theory, the potential of peer-to-peer energy trading could be enhanced, by optimizing the utilities of renewable energy, minimize wastage, and boost profitability.
format Proceeding Paper
author Abdullah Azahari, Abdul Aziz
Mohamad Hanif, Noor Hazrin Hany
Mohamed, Martina Muhaizira
author_facet Abdullah Azahari, Abdul Aziz
Mohamad Hanif, Noor Hazrin Hany
Mohamed, Martina Muhaizira
author_sort Abdullah Azahari, Abdul Aziz
title Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
title_short Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
title_full Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
title_fullStr Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
title_full_unstemmed Analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
title_sort analysing ratio-based controllers against motivational game theory in peer-to-peer renewable energy trading
publisher IEEE
publishDate 2024
url http://irep.iium.edu.my/114775/7/114775_%20Analysing%20ratio-based%20controllers.pdf
http://irep.iium.edu.my/114775/8/114775_%20Analysing%20ratio-based%20controllers_Scopus.pdf
http://irep.iium.edu.my/114775/
https://ieeexplore.ieee.org/document/10652448
_version_ 1814042704968941568
score 13.211869

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