Abstract
AbstractTo realize Carbon Neutrality, renewable energy would be the main source of electricity, such as photovoltaic (PV) power generation in the Japanese power system. However, a decrease in the number of operating thermal generators, the main source of balancing power in the Japanese balancing market, is causing concerns regarding a shortage of balancing power in the future. PV can therefore provide balancing power in addition to energy; thus, the PV power economic value in electricity markets will become diversified. A solution examination and rationality analysis of technical issues for PV‐based balancing power creation are needed. Here, by applying the proposed headroom control method based on the PV output curtailment beforehand, PV generator optimizes benefit by bidding into the balancing market when the spot market price is very low. Optimizing the bidding strategy on the spot market and balancing market is conducted, and battery integration is also considered. The optimization simulation results validate the possibility of creating balancing power by a PV power producer, and the total revenue valuation verifies a more beneficial effect. © 2023 Institute of Electrical Engineer of Japan and Wiley Periodicals LLC.
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