Analysis of Economic Benefits from Load Shifting Services in Energy Communities

Sergio Motta; Kari Mäki; Marius Baranauskas; Ville A. Ollikainen

doi:10.1109/SSI63222.2024.10740522

Analysis of Economic Benefits from Load Shifting Services in Energy Communities

Sergio Motta
, Kari Mäki
, Marius Baranauskas
, Ville A. Ollikainen

Aalto University

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

Abstract

Establishing energy communities provides a practical and effective approach to balance energy systems and support the green transition. Despite their recognized value, the widespread implementation of energy communities is yet to materialize, demanding a comprehensive understanding of technical, social, and economic aspects. This paper delves into the economic benefits of energy community operations, with a primary focus on load-shifting services. It accomplishes the objective by comparing different demand response strategies implemented in the Energy Community Smart Digital Node concept. Leveraging historical data from the electricity market, the study estimates economic benefits for stakeholders. Additionally, the paper further explores the translation of these economic benefits into sustainable business models for energy community operators while minimizing disruptions to end-users’ energy consumption behavior caused by demand response actions.

Original language	English
Title of host publication	2024 Smart Systems Integration Conference and Exhibition (SSI)
Publisher	Wiley-IEEE Press
Pages	1-4
Number of pages	4
ISBN (Electronic)	9798350388770
ISBN (Print)	979-8-3503-8878-7
DOIs	https://doi.org/10.1109/SSI63222.2024.10740522
Publication status	Published - 18 Apr 2024
MoE publication type	A4 Article in a conference publication
Event	2024 Smart Systems Integration Conference and Exhibition, SSI 2024 - Hamburg, Germany Duration: 16 Apr 2024 → 18 Apr 2024

Conference

Conference	2024 Smart Systems Integration Conference and Exhibition, SSI 2024
Country/Territory	Germany
City	Hamburg
Period	16/04/24 → 18/04/24

Funding

The authors of this paper would like to acknowledge the funding partners of the project STRATA - Smart Transformation for Resilience And community services Through digitAl grid layers. STRATA has been funded by ERA-Net Smart Energy Systems and Mission Innovation through Joint Call 2020. The project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No.883973. The authors acknowledge the support from national funding agencies Business Finland, Scottish Enterprise as well as German Ministry for Economy and Climate protection and the Projekträger Jülich within the project “STRATA” (FKZ 03EI6069A). The authors are responsible for the contents of this publication.

Keywords

Economics
Energy consumption
Biological system modeling
Transformers
Smart systems
Electricity supply industry
Demand response
Stakeholders
Load modeling
Business

Access to Document

10.1109/SSI63222.2024.10740522

Cite this

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title = "Analysis of Economic Benefits from Load Shifting Services in Energy Communities",

abstract = "Establishing energy communities provides a practical and effective approach to balance energy systems and support the green transition. Despite their recognized value, the widespread implementation of energy communities is yet to materialize, demanding a comprehensive understanding of technical, social, and economic aspects. This paper delves into the economic benefits of energy community operations, with a primary focus on load-shifting services. It accomplishes the objective by comparing different demand response strategies implemented in the Energy Community Smart Digital Node concept. Leveraging historical data from the electricity market, the study estimates economic benefits for stakeholders. Additionally, the paper further explores the translation of these economic benefits into sustainable business models for energy community operators while minimizing disruptions to end-users{\textquoteright} energy consumption behavior caused by demand response actions.",

keywords = "Economics, Energy consumption, Biological system modeling, Transformers, Smart systems, Electricity supply industry, Demand response, Stakeholders, Load modeling, Business",

author = "Sergio Motta and Kari M{\"a}ki and Marius Baranauskas and Ollikainen, \{Ville A.\}",

year = "2024",

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doi = "10.1109/SSI63222.2024.10740522",

language = "English",

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pages = "1--4",

booktitle = "2024 Smart Systems Integration Conference and Exhibition (SSI)",

publisher = "Wiley-IEEE Press",

address = "United States",

note = "2024 Smart Systems Integration Conference and Exhibition, SSI 2024 ; Conference date: 16-04-2024 Through 18-04-2024",

}

Motta, S, Mäki, K , Baranauskas, M & Ollikainen, VA 2024, Analysis of Economic Benefits from Load Shifting Services in Energy Communities. in 2024 Smart Systems Integration Conference and Exhibition (SSI)., 10740522, Wiley-IEEE Press, pp. 1-4, 2024 Smart Systems Integration Conference and Exhibition, SSI 2024, Hamburg, Germany, 16/04/24. https://doi.org/10.1109/SSI63222.2024.10740522

Analysis of Economic Benefits from Load Shifting Services in Energy Communities. / Motta, Sergio; Mäki, Kari ; Baranauskas, Marius et al.
2024 Smart Systems Integration Conference and Exhibition (SSI). Wiley-IEEE Press, 2024. p. 1-4 10740522.

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

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T1 - Analysis of Economic Benefits from Load Shifting Services in Energy Communities

AU - Motta, Sergio

AU - Mäki, Kari

AU - Baranauskas, Marius

AU - Ollikainen, Ville A.

PY - 2024/4/18

Y1 - 2024/4/18

N2 - Establishing energy communities provides a practical and effective approach to balance energy systems and support the green transition. Despite their recognized value, the widespread implementation of energy communities is yet to materialize, demanding a comprehensive understanding of technical, social, and economic aspects. This paper delves into the economic benefits of energy community operations, with a primary focus on load-shifting services. It accomplishes the objective by comparing different demand response strategies implemented in the Energy Community Smart Digital Node concept. Leveraging historical data from the electricity market, the study estimates economic benefits for stakeholders. Additionally, the paper further explores the translation of these economic benefits into sustainable business models for energy community operators while minimizing disruptions to end-users’ energy consumption behavior caused by demand response actions.

AB - Establishing energy communities provides a practical and effective approach to balance energy systems and support the green transition. Despite their recognized value, the widespread implementation of energy communities is yet to materialize, demanding a comprehensive understanding of technical, social, and economic aspects. This paper delves into the economic benefits of energy community operations, with a primary focus on load-shifting services. It accomplishes the objective by comparing different demand response strategies implemented in the Energy Community Smart Digital Node concept. Leveraging historical data from the electricity market, the study estimates economic benefits for stakeholders. Additionally, the paper further explores the translation of these economic benefits into sustainable business models for energy community operators while minimizing disruptions to end-users’ energy consumption behavior caused by demand response actions.

KW - Economics

KW - Energy consumption

KW - Biological system modeling

KW - Transformers

KW - Smart systems

KW - Electricity supply industry

KW - Demand response

KW - Stakeholders

KW - Load modeling

KW - Business

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DO - 10.1109/SSI63222.2024.10740522

M3 - Conference article in proceedings

SN - 979-8-3503-8878-7

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BT - 2024 Smart Systems Integration Conference and Exhibition (SSI)

PB - Wiley-IEEE Press

T2 - 2024 Smart Systems Integration Conference and Exhibition, SSI 2024

Y2 - 16 April 2024 through 18 April 2024

ER -

Analysis of Economic Benefits from Load Shifting Services in Energy Communities

Abstract

Conference

Funding

Keywords

Access to Document

Other files and links

Fingerprint

STRATA: Smart Transformation for Resilience And communityservices Through digitAl grid layers

Cite this

Analysis of Economic Benefits from Load Shifting Services in Energy Communities

Abstract

Conference

Funding

Keywords

Access to Document

Other files and links

Fingerprint

Projects

STRATA: Smart Transformation for Resilience And communityservices Through digitAl grid layers

Cite this