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Rapid population growth, the ongoing fourth industrial revolution, rising energy demands, global environmental concerns, and uneconomic non-renewable energy drain intensify the need for prosumer communities to bridge the demand-supply gap in electrical energy. To this end, in this paper, we propose a priority-based energy sharing and management model, considering the prosumer community equipped with a renewable energy manager for power production and energy storage by limiting the dependency on available resources. In the proposed model, surplus power is shared within the community due to constraints of power line capacity for traditional grids. In addition, energy sharing is based on two distinct criteria: single-use and multiple-uses. The objective of the proposed model is to maximize the utilization of surplus power at a low per unit energy cost and obtain the optimum economic advantage. We employ a binary integer programming (BIP) technique to solve the formulated problem. The proficiency of the prosumer is the primary focus of the employed strategy. A weight factor is introduced to estimate the intra-dependency of the demand-supply gap and energy cost. Simulation results show that the demand-supply gap in the prosumer community reduces up to 41.8 &#x0025; without energy storage system. Additionally, the results also validate that including the energy storage system in the prosumer community further reduces the demand-supply gap to 67.33 &#x0025;.

Priority-Based Energy Sharing and Management Among Prosumers in Smart Grids