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Smart energy technologies, services, and business models are being developed to reduce energy consumption and emissions of CO2 and greenhouse gases and to build a sustainable environment. Renewable energy is being actively developed throughout the world, and many intelligent service models related to renewable energy are being proposed. One of the representative service models is the energy prosumer. Through energy trading, the demand for renewable energy and distributed power is efficiently managed, and insufficient energy is covered through energy transaction. Moreover, various incentives can be provided, such as reduced electricity bills. However, despite such a smart service, the energy prosumer model is difficult to expand into a practical business model for application in real life. This is because the production price of renewable energy is higher than that of the actual grid, and it is difficult to accurately set the selling price, restricting the formation of the actual market between sellers and consumers. To solve this problem, this paper proposes a small-scale energy transaction model between a seller and a buyer on a peer-to-peer (P2P) basis. This model employs a virtual prosumer management system that utilizes the existing grid and realizes the power system in real time without using an energy storage system (ESS). Thus, the profits of sellers and consumers of energy transactions are maximized with an improved return on investment (ROI), and an intelligent demand management system can be established. [ABSTRACT FROM AUTHOR]

Electric vehicles (EVs) are envisaged to be the future transportation medium, and demonstrate energy efficiency levels much higher than conventional gasoline or diesel-based vehicles. However, the sustainability of EVs is only justified if the electricity used to charge these EVs is availed from a sustainable source of energy and not from any fossil fuel or carbon generating source. In this paper, the challenges of the EV charging stations are discussed while highlighting the growing use of distributed generators in the modern electrical grid system. The benefits of the adoption of photovoltaic (PV) sources along with battery storage devices are studied. A multiport converter is proposed for integrating the PV, charging docks, and energy storage device (ESD) with the grid system. In order to control the bidirectional flow between the generating sources and the loads, an intelligent energy management system is proposed by adapting particle swarm optimization for efficient switching between the sources. The proposed system is simulated using MATLAB/Simulink environment, and the results depicted fast switching between the sources and less switching time without obstructing the fast charging to the EVs. [ABSTRACT FROM AUTHOR]