Virtual Power Plant’s Optimal Scheduling Strategy in Day-Ahead and Balancing Markets Considering Reserve Provision Model of Energy Storage System
Source abstract
Abstract
In recent years, with the rapid increase in renewable energy sources (RESs), a Virtual Power Plant (VPP) concept has been developed to integrate many small-scale RESs, energy storage systems (ESSs), and customers into a unified agent in the electricity market. Optimal coordination among resources within the VPP will overcome their disadvantages and enable them to participate in both energy and balancing markets. This study considers a VPP as an active agent in reserve provision with an upward reserve capacity contract pre-signed in the balancing capacity (BC) market. Based on the BC contract’s requirements and the forecasted data of RESs and demand, a two-stage stochastic optimization model is presented to determine the VPP’s optimal scheduling in the day-ahead (DA) and balancing energy (BE) markets. The probability of reserve activation in the BE market is considered in this model. The ESS’s reserve provision model is proposed so as not to affect its schedule in the DA market. The proposed optimal scheduling model is applied to a test VPP system; then, the effects of the BC contract and the probability of reserve activation on the VPP’s trading schedule are analyzed. The results show that the proposed model has practical significance.
Source: crossref · Quality: baseline
Research context
OpenAlex topics: Smart Grid Energy Management · Microgrid Control and Optimization · Power Systems and Renewable Energy
SciVX discovery tags are terminology-based. OpenAlex topics are source-provided classifications.
Affiliations
School of Electrical and Electronics Engineering, Hanoi University of Science and Technology, Hanoi 100000, Vietnam
Funding
Ministry of Education and Training
References (52)
Show source-provided references
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