Mitigating production uncertainties of renewables by adjustable load scheduling

Abstract

An increasing share of renewable energy sources (RES), such as wind and solar generation, is traded on the electricity markets. The volatility and forecast uncertainty of RES production cause market imbalances and hinder the transition towards emission-free electricity generation. Flexible load scheduling in the form of charging electric vehicles (EVs) offers an opportunity to counterbalance RES variability and forecast uncertainty and thereby enables a higher share of renewables. A stochastic linear multistage optimisation approach is presented to explore the benefits of combining RES production and flexible EV charging in the form of a hybrid aggregator trading on the liberalised electricity market. Model results show that the hybrid aggregator is able to minimise its imbalance requirements, but uses RES production for charging only if such is financially optimal. Further research is required to explore the market impact of the hybrid aggregator and test its feasibility.