Abstract
This paper proposes a simple and practical approach to model the uncertainty of solar irradiance and determines the optimized day-ahead (DA) schedule of electricity market. The problem formulation incorporates the power output of distributed solar photovoltaic generator (DSPVG) and forecasted load demands with a specified level of certainty. The proposed approach determines the certainty levels of the random variables (solar irradiance and forecasted load demand) from their probability density function curves. In this process of optimization, the energy storage system (ESS) has also been modeled based on the fact that the energy stored during low locational marginal price (LMP) periods and dispatched during high LMP periods would strengthen the economy of DA schedule. The objective of the formulated non-linear optimization problem is to maximize the social welfare of market participants, which incorporates the assured generation outputs of DSPVG, subject to real and reactive power balance and transmission capability constraints of the system and charging/dis-charging and energy storage constraints of ESS. The simulation has been performed on the Indian utility 62-bus system. The results are presented with a large number of cases to demonstrate the effectiveness of the proposed approach for the efficient, economic and reliable operation of DA electricity markets.
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