Bi-level stochastic energy trading model for technical virtual power plants considering various renewable energy sources, energy storage systems and electric vehicles

• Type: Article in International Scientific Journal
• Date: 2023

Authors

Gough, M (Author) Other; Santos, SF (Author) Other; Javadi, MS (Author) Other; Home-Ortiz, JM (Author) Other; Castro, R (Author) Other; Catalao, JPS (Author) FEUP

Journal

Title: Journal of Energy Storage

Vol. 68

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 4 Citations

Scopus

Other information

Authenticus ID: P-00Y-HRY

DOI: 10.1016/j.est.2023.107742

Abstract (EN): The ongoing transition of the energy system towards being low-carbon, digitized and distributed is accelerating. Distributed Energy Resources (DERs) are playing a major role in this transition. These DERs can be aggregated and controlled by Virtual Power Plants (VPPs) to participate in energy markets and make full use of the potential of DERs. Many existing VPP models solely focus on the financial impact of aggregating DERs and do not consider the technical limitations of the distribution system. This may result in technically unfeasible solutions to DERs operations. This paper presents an expanded VPP model, termed the Technical Virtual Power Plant (TVPP), which explicitly considers the technical constraints of the network to provide operating schedules that are both economically beneficial to the DERs and technically feasible. The TVPP model is formulated as a bi-level sto-chastic mixed-integer linear programming (MILP) optimization model. Two objective functions are used, the upper level focuses on minimizing the amount of power imported into the TVPP from the external grid, while the lower level is concerned with optimally scheduling a mixture of DERs to increase the profit of the TVPP operator. The model considers three TVPPs and allows for energy trading among the TVPPs. The model is applied to several case studies based on the IEEE 119-node test system. Results show improved DERs operating schedules, improved system reliability and an increase in demand response engagement. Finally, energy trading among the TVPP is shown to further reduce the costs of the TVPP and power imported from the upstream electrical network.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 14