Abstract
The virtual power plant (VPP) is a new technology to achieve flexibility as well as controllability, like traditional centralized power plants, by integrating and operating different types of distributed energy resources (DER) with the information communication technology (ICT). Though small-sized DERs may not be controlled in a centralized manner, these are more likely to be utilized as power plants for centralized dispatch and participate in the energy trade given that these are integrated into a unified generation profile and certain technical properties such as dispatch schedules, ramp rates, voltage control, and reserves are explicitly implemented. Unfortunately, the VPP has been in a conceptual stage thus far and its common definition has not yet been established. Such a lack of obvious guidelines for VPP may lead to a further challenge of coming up with the business model and reinforcing the investment and technical support for VPP. In this context, this paper would aim to identify the definition of VPP as a critical factor in smart grid and, at the same time, discuss the details required for VPP to actively take part in the electricity market under the smart grid paradigm.
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