Abstract
Virtual power plant (VPP) aggregates the capacity of diverse distributed energy resources (DERs) dispersed around the network and creates an individual operating portfolio from the composition of DERs characteristics. VPP can schedule the DERs to provide energy and different types of reserve services in order to trade in wholesale electricity markets or provide network services. In this chapter, an optimization model of VPP to provide energy and reserve is addressed. In this regard, diverse DERs' energy and reserve models are mentioned and optimization models of VPP to aggregate DERs in order to provide energy and reserve and make profit in wholesale markets are regarded. Furthermore, a model of VPP to utilize flexibility capabilities of DERs is taken into account. At the end, two examples for VPP's optimization problem are provided to show how the model can be utilized by VPP to effectively exploit DERs' energy and reserve capabilities and make profit in markets.
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