Free autonomy renewable trade markets for government independence and carbon neutrality transitions with grid-demand-storage synergies
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GRAPHICAL ABSTRACT
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PUBLIC SUMMARY
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Free trading markets with spontaneous renewable system installations among stakeholders to mitigate investment pressure of government.
Distributed renewable system in free trading market for energy trading between EV owners and prosumers with flexible energy management strategies.
Vehicle-to-everything (V2X) with different charging/discharging modes with the trade-off between additional expenditures on EV battery cycling aging costs and additional economic profits.
The trade-off between profit margin and carbon emission with levelized electricity cost, levelized cost of charging and levelized carbon mitigation subsidy.
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ABSTRACT
Along with the gradual phase-out of fossil-fuels, technology readiness and cost decline of renewable energy technologies and battery storages can bring new prospects for renewable energy trading market and extensive power-sector decarbonization. Renewable energy trading market has rapidly transformed from traditional grid-based transactions towards future direct free trading with multi-stakeholders. However, the direct free trading market for sustainable development of renewable energy systems is unclear, in terms of establishment conditions, increased profit margin and promotion initiatives. In this study, free trading markets with spontaneous renewable system installations among stakeholders instead of government are proposed for spatiotemporal energy and economic balances with different types of buildings and electric vehicles (EVs). For the centralized renewable energy system, it is proposed based on energy transmission and energy trading between centralized PV farms and consumers. Besides, free trading market in the distributed renewable energy system is also established between EV owners and prosumers with flexible energy management strategies (i.e. EV energy sharing, and EV battery cascade utilization). Roles of EVs under vehicle-to-everything (V2X) with different charging/discharging modes are analysed considering the trade-off between additional expenditures on EV battery cycling aging costs and additional economic profits for economic feasibility and carbon emission reduction for environmental sustainability based on dynamic energy trading mechanism and associated cost decline. The results suggest that, due to the rapid decline in the costs of both renewables and batteries, along with the increased penetration of renewable energy in centralized systems, the free-market trading model could become widely accepted by 2060. Due to the rapid decrease of battery cost and increase in grid price, the EV owners will transit from cost payers to economic earners, along with the levelized cost of charging (LCOC) with EV energy sharing decreases from 2.24 CNY/kWh in 2020 to -1.27 CNY/kWh in 2060. Furthermore, retired EV battery cascade utilization in building energy storages can reduce the levelized electricity cost (LEC) of residential building owners. Overall, this study provides valuable insights into dynamic evolutions of free trading markets on renewable energy which significantly encourages spontaneous renewable investments and trading behaviours for the sustainable renewable energy deployment. -
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Yu X. and Zhou Y. (2025). Free autonomy renewable trade markets for government independence and carbon neutrality transitions with grid-demand-storage synergies. The Innovation Energy 2:100062. https://doi.org/10.59717/j.xinn-energy.2024.100062
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Yu X. and Zhou Y. (2025). Free autonomy renewable trade markets for government independence and carbon neutrality transitions with grid-demand-storage synergies. The Innovation Energy 2:100062. https://doi.org/10.59717/j.xinn-energy.2024.100062
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Figure 1.
Schematic diagram of the centralized renewable energy trading market.
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Figure 2.
Schematic diagram of the distributed renewable energy trading market.
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Figure 3.
Economic metrics in the centralized renewable energy trading market
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Figure 4.
Impact of EV energy sharing on the levelized cost of charging (LCOC) in the distributed renewable energy trading market
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Figure 5.
Impact of EV energy sharing on the levelized electricity cost (LEC) in the distributed renewable energy trading market
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Figure 6.
Operational carbon emissions of the centralized renewable energy trading market.
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Figure 7.
Impact of EV energy sharing on the operational carbon emissions in the distributed renewable energy trading market Low, medium, and high charging/discharging mode refers to the maximum EV charging/discharging power at 5 kW, 15 kW and 50 kW, respectively.
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Figure 8.
Levelized carbon mitigation subsidy (LCMS) for EV owners.
