Abstract

virtual power plants (VPPs) in the power distribution grid play an important role in balancing the power and heat generation and consumption in residential, commercial, and industrial sectors. This study proposes VPPs for risk-averse energy exchange of resources and customers in the presence of the hybrid storage system. An appropriate energy management program is presented to make a balance between generators and consumers in VPPs considering generation uncertainties including electricity demand and price forecasting in the electricity market and renewable energy uncertainties. Hence, monetary exchange methods such as day-ahead agreements are proposed for energy exchange among VPPs. The expanded exchange structure of the suggested framework simplifies the renewable energy's sources to the electricity market despite its small-scale and non-dispatchable features. Also, a novel model is presented for short-term programing of virtual power plant considering technical and economic uncertainties. Given that VPPs can enter the electricity market based on time-of-use (TOU) pricing strategy and participation in demand response (DR) program, minimizing the expected cost of energy generation and environmental pollution is considered as the objective function. A multi-objective efficient model of energy management employing the machine speed scaling mechanism is suggested. An effective adaptive multi-objective differential evolution (AMODE) algorithm is presented to solve the multi-objective optimization problem. AMODE usages a novel Fitness Evaluation Mechanism (FEM) using dynamic reference point and fuzzy association randomness study to evaluate solutions in the evolutionary population by implementing the conditional value at risk (CVaR) method for risk management. The simulation studies and sensitivity analysis results are evaluated to confirm the effectiveness of the proposed model on a VPP in the island and grid-connected modes with and without participation in DR program. Finally, the conceptual results are discussed.

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