Abstract
With the increasing share of variable and limitedly predictable renewable energy in power systems worldwide, ensuring reserve capacity to maintain the balance of supply and demand becomes more important. On the other hand, the development of the virtual power plant model (VPP) allows renewable sources and energy storage to participate in reserve service. This paper addresses the optimal reserve bidding strategy problem of a VPP comprising of renewable energy resources (RESs), energy storage systems (ESSs), and several customers. The VPP participates in balance capacity (BC), day-ahead (DA), and intra-day (ID) markets. The scheduling problem is formulated as a two-stage chance-constrained optimization model taking the uncertainty of RESs production, load consumption, and probability of reserve activation into account. The response of VPP after its reserve capacity is called and generated is also considered to increase the operational flexibility of VPP. The proposed model is implemented on a test VPP system, and the effects of RESs sizing, ESSs sizing, and the probability of reserve activation are analyzed. Results indicate that the proposed model can perform well under real-world conditions.
Highlights
In recent years, due to the ever-increasing electricity demand and environmental problems, renewable energy sources (RESs), such as wind and solar power, have been quickly developed and have become an essential part of the electricity system
This paper considers and analyzes the virtual power plant model (VPP)’s optimal scheduling problem in the balance capacity (BC) and energy markets
The main purpose is determining the VPP optimal reserve sizing and the possible operating scenarios of the VPP in the DA and ID markets. This task is challenging because the VPP operators do not know whether their reserve service will be called; the profit from provisioning reserve service is uncertain
Summary
Due to the ever-increasing electricity demand and environmental problems, renewable energy sources (RESs), such as wind and solar power, have been quickly developed and have become an essential part of the electricity system. A VPP can play two roles in the market: a supplier or a consumer, depending on the sizing of RESs and ESS in comparison to local demand This paradigm shift allows small-scale resources to participate in the market and makes them more profitable [9,11]. Several more recent studies [20,21,22] propose multi-stage scheduling models considering the BC market In these papers, the VPP trades the reserve capacity simultaneously as energy trading in the day-ahead market. The proposed optimal model is based on a two-stage chance-constrained problem which allows a certain risk level in the VPP’s scheduling This model is suitable for the short-term planning of power systems with uncertain resources and demand. The cpllaysasriefisecravteiocanpaocfityreosf eatrlveeasts5eMrvWicaensdmmaaiyntvaianriyt fofrrothme recqouuirnedtrdyurtaotiocno.uAnltthroyu,gthhey generally havethseimclialsasrifirceaqtiouniroefmreesnertvse[2se4r,v3i5ce]s, amnady vaaVryPfPromshcoouulndtrysattoiscfoyunthtrey,sethreeyqgueinreermalleynts to participate inhatvheesiBmCilamr reaqrukieretm. ents [24,35], and a VPP should satisfy these requirements to participate in the BC market
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