Abstract
With the development of intermittent renewable energy, power system needs more capacity resources to ensure the generation adequacy during peak load periods. Flexible resources such as electric vehicles(EVs) and demand response resources(DRRs) will play important roles in the capacity market auction. However, due to the uncertainty of outputs, they are not competitive enough in the market and face high investment risks. In order to deal with this situation, we integrate renewable energy resources(RESs), EVs and DRRs into a virtual power plant (VPP) and proposed a novel auction model for the VPP to participate in the capacity market. The objective function is to maximize the social welfare while satisfying the reliability of the system. This paper also presents the results of a case study with three scenarios to prove the validity. The proposed model provides a novel path for distributed flexible resources to participate in capacity market.
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