Optimized Prosumer Consortium Model – Analysis

The modern world is largely reliant on a steady supply of electricity. The introduction of microgrids provided a solution for balancing demand and supply and to provide reliable, efficient, stable, secure power supply. Micro-grid consists of prosumers, who consumes and exports renewable energy, consumers, energy storage systems and the utility. In comparison to independent operations by each prosumer, the energy exchange between nearby PV prosumers is shown to be a more efficient method. The results demonstrate the benefits of a prosumer consortium in maximizing power consumption at lesser cost and with less reliance on the main grid.