Possible Approaches to Trade Non-Electric Energy Sources in the Next Generation Smart Grids

Abstract

It is known that the energy trading strategy followed in existing smart grids is built based on transferring electricity between entities. Because there is a big portion of non-electric energy forms are also employed in daily uses, such as logs, solar, and biogas water heaters, so still there is a deficiency associated with these grids. There is an attempt to trade these non-electrical energy forms in the next generation smart grids. However, the option discussed in that study is not well established, and it is built based on only transferring hot waters through pipelines connected between entities. Actually, this approach has some limitations and it could be a non-optimal choice to trade nonelectrical energy forms in terms of minimum losses, maximum profit, less risks, more flexibility, environment friendly, aesthetics, etc. This study discusses multiple possible options to locally trade these non-electric energy forms in the next generation smart grids. Therefore, the best option can be selected based on a tradeoff or a single/multi-objective approach.