Solar and home battery-based electricity spot market for Saudi Arabia using consortium and negotiation

Abstract

With the rise of technology, the electronic market has shown growth potential recently compared to that of the traditional market. It is difficult to imagine people's lives without electricity. The availability of electricity serves an important role in modern life. The electricity market discussed in this dissertation is a proposal for Saudi Arabia's electricity market. Due to the gap between electricity supply and demand, the hot places in Jazan, Saudi Arabia, for example, experience the interruption of electricity frequently. The demand of electricity increases in the summer season because of increasingly hot weather. The supply of electricity during this peak time can be solved by building a large-scale power plant, but this would cost the government a lot of money. As an alternative, this dissertation provides three suggestions to cover this gap. As a first option, an electricity market with solar panels and batteries can provide electricity for that gap. As a second option, consortiums of smaller sellers and individual large sellers can form an electricity market that is more efficient and provides electricity when it is needed during peak times. As a third option, an efficient electricity spot market can be formed through trading with negotiations and consortiums. This dissertation demonstrates how electricity can be supplied through sellers who utilize solar power and home batteries and a buyer by using computer simulations.