Combining Electricity Pricing Systems
Seeking Strategies for Maximizing Profits
The Institute for Regional Development at Chonnam National University recently co-hosted the "Village-Scale Microgrid Simulation Competition" based on digital twin technology with Grida Energy Co., Ltd. Photo by Chonnam National University
The Regional Development Research Institute at Chonnam National University (Director Bae Junghwan) announced on the 4th that it recently co-hosted a "Village-level Microgrid Simulation Competition based on Digital Twin Technology" with Gridda Energy Co., Ltd.
This competition was organized to find optimal operation strategies for village-level microgrid projects by utilizing digital twin technology.
Participants operated microgrid resources such as solar power, wind power, and fuel cells in virtual climate environments, tackling tasks that involved combining various electricity pricing systems and direct power trading methods to seek profit maximization strategies.
More than 30 students from the departments of Electrical Engineering, Business Administration, and Economics at Chonnam National University participated in the competition. During the two-hour event, participants competed to derive optimal strategies through simulation. As a result, Obi Celestine Emeka (Department of Electrical Engineering), who achieved the highest profit, was awarded the grand prize.
Director Bae Junghwan stated, "We plan to analyze the data obtained from this competition using various quantitative analysis models," and added, "Through this, we will be able to derive the optimal electricity pricing systems and direct power trading methods suitable for operating village-level microgrid projects."
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