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High penetration of renewable energy source makes microgrid (MGs) beenvironment friendly. However, the stochastic input from renewable energyresource brings difficulty in balancing the energy supply and demand.Purchasing extra energy from macrogrid to deal with energy shortage willincrease MG energy cost. To mitigate intermittent nature of renewable energy,energy trading and energy storage which can exploit diversity of renewableenergy generation across space and time are efficient and cost-effectivemethods. But current energy storage control action will impact the futurecontrol action which brings challenge to energy management. In addition, due toMG participating energy trading as prosumer, it calls for an efficient tradingmechanism. Therefore, this paper focuses on the problem of MG energy managementand trading. Energy trading problem is formulated as a stochastic optimizationone with both individual profit and social welfare maximization. Firstly aLyapunov optimization based algorithm is developed to solve the stochasticproblem. Secondly the double-auction based mechanism is provided to attract MGtruthful bidding for buying and selling energy. Through theoretical analysis,we demonstrate that individual MG can achieve a time average energy cost closeto offline optimum with tradeoff between storage capacity and energy tradingcost. Meanwhile the social welfare is also asymptotically maximized underdouble auction. Simulation results based on real world data show theeffectiveness of our algorithm.

Energy Trading between microgrids Individual Cost Minimization and Social Welfare Maximization