Abstract
The large-scale penetration of renewable energy, such as wind power, brings a lot of economic and environmental benefits to the grid, and it also causes hidden dangers in the reliability and security of the power system due to its uncertainty. As an effective demand-side management method, demand response has unique advantages in smoothing wind power fluctuations and mitigating grid pressure. This paper proposes a new model for the demand response aggregator (DRA) that includes both combined heat and power systems (CHPS) and energy storage devices. DRA can interact with the Independent system operator (ISO) through combined heat and power (CHP) units, energy storage devices, and the heat buffer tank to benefit from the electricity market and the thermal market simultaneously. At the same time, wind power producers (WPP) are modeled to turn wind power that was initially passively consumed into active market participants. The problem is modeled using an improved weighted method, which aims to take the diverse objectives of multiple market participants into account. The proposed model is tested on the modified IEEE RTS-24 test system to analyze the optimal scheduling strategies of each participant in the power market.
Highlights
Renewable energy, such as wind power and solar energy are environmentally friendly and economically convenient.countries around the world are vigorously promoting the construction of renewable energy power plants
wind power producers (WPP) plays the role of active market participant, and there is no difference between WPP and traditional generators in clearing the market
In the model of this paper, WPP plays the role of an active participant in the electricity market, and there is no difference between WPP and traditional generators in clearing the market
Summary
Renewable energy, such as wind power and solar energy are environmentally friendly and economically convenient. This paper establishes a day-ahead power market framework with multiple market participants, including traditional generator company (Genco), WPP, and DRA with CHPS and energy storage devices. These market participants have different objective functions, that is, to maximize their profit. 4) OBJECTIVE FUNCTION OF DRA After the implement of DRPs, the load can be partially powered by the CHPS and the energy storage device. E. MULTI-OBJECTIVE OPTIMIZATION Considering that traditional Genco, WPP and DRA all want to maximize their interests, in order to balance the interests of all parties, this paper adopts an improved weighted method to obtain the best behavior patterns of market participants. This manuscript uses the improved weighted method, this does not mean that other algorithms are not good, but we think that the improved weighted method is more suitable for this manuscript
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