TY - GEN
T1 - Optimal Bidding Strategy for a RES Virtual Power Plant in the Spot Market
AU - Kuang, Yi
AU - Wang, Xiuli
AU - Zhu, Zongyao
N1 - Publisher Copyright:
© 2019 IEEE.
PY - 2019/11
Y1 - 2019/11
N2 - Recently, the penetration of renewable energy source(RES) have been growing globally, encouraged by environmental policies and low-carbon energy policies. Due to the volatility and uncertainty of renewable energy output, it is very difficult to bid in the market alone. To solve this problem, combining wind power(WP), photovoltaic(PV) and power storage units to form a virtual power plant(VPP) is an effective path to stabilize the output deviation and promote renewable energy consumption. In this paper, a VPP consists of wind power generation, photovoltaic generation, power storage units and load are enabled to participate in the wholescale markets, including day-ahead(DA) market and real-time(RT) market. The objective of the VPP in this paper is to maximize the profit on DA and RT market. To achieve this goal, an optimal bidding model is proposed. In this model, several important market uncertainties are considered, consisting of RES generation, DA market price and RT market price. A fuzzy optimization method is applied to deal with the uncertainty of RES generation. Moreover, the uncertainties of DA market price and RT market price are handled by a robust optimization. Finally, an example is given to verify the effectiveness of the bidding strategy.
AB - Recently, the penetration of renewable energy source(RES) have been growing globally, encouraged by environmental policies and low-carbon energy policies. Due to the volatility and uncertainty of renewable energy output, it is very difficult to bid in the market alone. To solve this problem, combining wind power(WP), photovoltaic(PV) and power storage units to form a virtual power plant(VPP) is an effective path to stabilize the output deviation and promote renewable energy consumption. In this paper, a VPP consists of wind power generation, photovoltaic generation, power storage units and load are enabled to participate in the wholescale markets, including day-ahead(DA) market and real-time(RT) market. The objective of the VPP in this paper is to maximize the profit on DA and RT market. To achieve this goal, an optimal bidding model is proposed. In this model, several important market uncertainties are considered, consisting of RES generation, DA market price and RT market price. A fuzzy optimization method is applied to deal with the uncertainty of RES generation. Moreover, the uncertainties of DA market price and RT market price are handled by a robust optimization. Finally, an example is given to verify the effectiveness of the bidding strategy.
KW - Robust optimization(RO)
KW - fuzzy optimization(FO))
KW - renewable energy source(RES))
KW - vitual power plant (VPP))
UR - https://www.scopus.com/pages/publications/85079478918
U2 - 10.1109/iSPEC48194.2019.8975382
DO - 10.1109/iSPEC48194.2019.8975382
M3 - 会议稿件
AN - SCOPUS:85079478918
T3 - iSPEC 2019 - 2019 IEEE Sustainable Power and Energy Conference: Grid Modernization for Energy Revolution, Proceedings
SP - 1480
EP - 1485
BT - iSPEC 2019 - 2019 IEEE Sustainable Power and Energy Conference
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 2019 IEEE Sustainable Power and Energy Conference, iSPEC 2019
Y2 - 21 November 2019 through 23 November 2019
ER -
