Renewable Power Trading Control for Time-Stamped Certificate Matching
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Solution Overview
Problem
The existing mechanisms for trading renewable energy power and environmental certificates face challenges in accurately predicting demand, leading to increased renewable energy output variability, unsold products, and risks of supply-demand shortages, with difficulties in tracking offset transactions and price adjustments.
Innovation Solution
A control device and method that generates and manages environmental certificate and power transaction data with time stamps, holder IDs, and par amounts, enabling future and physical transactions, and includes risk analysis and output control to ensure accurate tracking and trading of renewable energy supply and demand.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If environmental certificates are created only after power generation and consumption, then time-stamped environmental certificates can be issued with accurate time zone matching, but it becomes difficult to reliably obtain the required amount of environmental certificates by physical transaction after power consumption
Solution Approach 1:
The system performs preliminary actions by creating future transaction notes before the actual power generation and consumption occur. These notes represent anticipated environmental certificates that can be traded in advance, allowing participants to secure their certificate needs before the actual generation happens, thus ensuring both time zone accuracy and reliable availability.
Solution Approach 2:
The invention introduces future transaction notes as an intermediary instrument between the power trading and environmental certificate trading. These notes serve as a bridge that allows participants to trade environmental certificate claims in advance based on predicted power generation, without requiring the actual certificates to exist yet, thereby resolving the contradiction between accuracy and availability.
2Adaptability or versatility
If renewable energy power generation amount is predicted with high deviation risk, then bundled renewable energy power trading can be attempted, but there is a risk that power consumers cannot secure the power itself and cause supply-demand shortage type power outage
Solution Approach 1:
The system segments the power and environmental certificate transactions into separate but coordinated processes. By creating distinct future transaction notes for power and for environmental certificates, the system allows independent management and tracking of each component, reducing the risk that prediction deviations in one area will cause failures in the other.
Solution Approach 2:
The system implements feedback mechanisms where actual power generation and consumption data are continuously monitored and used to adjust future transaction notes. This feedback loop allows the system to correct prediction deviations in real-time, ensuring that power supply security is maintained even when initial predictions have high deviation risk.
3Adaptability or versatility
If power and environmental certificates are traded separately to different power consumers, then the transaction mechanism becomes more complex, but it enables offset between power and environmental certificates from different time zones
Solution Approach 1:
The system creates copies of transaction information in the form of future transaction notes that can be replicated and transferred independently. These notes serve as digital representations of the right to receive environmental certificates, allowing the system to manage separate power and certificate transactions without requiring complex physical tracking of actual certificates at each stage.
4Measurement precision
If a stricter time-stamped environmental certificate method is proposed, then renewable energy time zone matching is improved, but unsold products and risk of buying back increase due to inability to predict demand
Solution Approach 1:
Participants can perform preliminary actions by trading future transaction notes that represent anticipated environmental certificates. This allows demand to be expressed in advance, enabling better prediction and matching of supply and demand before the actual certificates are created, thereby reducing unsold certificates while maintaining time zone accuracy.
Data Source
AI summary
Provided is a device, a method, and a program for enabling tracking of power supply and demand of renewable energy while separating an unsuccessful delivery risk of power with high severity from an unsuccessful delivery risk of a renewable energy value and securing delivery of power with high accuracy by simultaneously and continuously trading power and environmental certificates. Based on information such as power demand-supply plan information, future transaction information, power demand-supply performance information, and physical transaction information, a future transaction and a physical transaction of power and environmental certificates are contracted and cleared by sequentially duplicating power selling note data, power purchasing note data, environmental certificate selling note data, and environmental certificate purchasing note data each associated with a time stamp, a par amount, and a holder ID, and rewriting the par amount and the holder ID thereof.