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Risk-based Optimal Bidding and Operational Scheduling of a Virtual Power Plant Considering Battery Degradation Cost and EmissionAKKAS, O. P.   , CAM, E. |
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Author keywords
distributed power generation, energy management, power system planning, renewable energy sources, risk analysis
References keywords
power(41), energy(29), virtual(26), plant(23), scheduling(12), optimal(12), jijepes(9), stochastic(7), risk(7), markets(7)
Blue keywords are present in both the references section and the paper title.
About this article
Date of Publication: 2023-05-31
Volume 23, Issue 2, Year 2023, On page(s): 19 - 28
ISSN: 1582-7445, e-ISSN: 1844-7600
Digital Object Identifier: 10.4316/AECE.2023.02003
Web of Science Accession Number: 001009953400003
SCOPUS ID: 85164345741
Abstract
A virtual power plant (VPP) is a system combining various types of distributed energy resources (DERs) to provide a reliable power system operation. It provides the advantage of making changes in generation according to variety, price, and demand conditions with bringing renewable energy sources (RES) in a single portfolio and using their flexibility. In this study, it is tried to find optimal bidding and operational scheduling of a VPP containing Wind Power Plant (WPP), Photovoltaic Power Plant (PVPP), Heat-Only Unit (HOU), Battery Energy Storage System (BESS), Combined Heat and Power Plant (CHPP), and electrical/thermal demands and participating in the day-ahead electricity market in 24-h time interval. It is aimed to maximize profit and minimize emissions with considering the battery cost. A stochastic model is formed by considering the uncertainty arising from RES. In addition, CVaR (Conditional Value at Risk) as a risk measurement technique is applied against the risk arising from low profit scenarios. The proposed optimization problem formulated as a stochastic Mixed Integer Nonlinear Programming (MINLP) model and is solved by solver LINDO in GAMS (General Algebraic Modelling System). The case studies are implemented to show the applicability and effectiveness of the presented model. |
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Faculty of Electrical Engineering and Computer Science
Stefan cel Mare University of Suceava, Romania
All rights reserved: Advances in Electrical and Computer Engineering is a registered trademark of the Stefan cel Mare University of Suceava. No part of this publication may be reproduced, stored in a retrieval system, photocopied, recorded or archived, without the written permission from the Editor. When authors submit their papers for publication, they agree that the copyright for their article be transferred to the Faculty of Electrical Engineering and Computer Science, Stefan cel Mare University of Suceava, Romania, if and only if the articles are accepted for publication. The copyright covers the exclusive rights to reproduce and distribute the article, including reprints and translations.
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Disclaimer: Whilst every effort is made by the publishers and editorial board to see that no inaccurate or misleading data, opinions or statements appear in this journal, they wish to make it clear that all information and opinions formulated in the articles, as well as linguistic accuracy, are the sole responsibility of the author.
