An aggregator-based-strategy to minimize the cost of energy consumption by optimal utilization of energy resources in an apartment building

Buildings and transport consume two thirds of the total global energy. It is desirable to maximize the use of renewable generation in these sectors, and to optimize the use of that energy by managing diverse sources and loads. This is particularly challenging in high-density residential premises where the space for such infrastructure is limited, and storage can have significant impact on energy utilization and demand. In this paper, we have proposed an aggregator-based-strategy (ABS) to optimally utilize the available energy resources and storage in an apartment building with twenty households, each having an electric vehicle (EV), and an aggregated solar photo-voltaic (PV) energy and stationary battery storage (BS) system. The strategy is flexible and can be applied to any building with EVs, solar PV and BS to minimize the cost of energy consumption without compromising the flexibility of energy usage or travel requirements. The model also accounts for the battery capacity degradation and its associated cost to make it more realistic. The model is evaluated using real data and the results show that the strategy not only reduces the cost of energy consumption but also reduces the amount of energy drawn from the grid significantly.