Research on the Electricity Market Clearing Model for Renewable Energy
The development of renewable energy in China has made remarkable achievements, but the problem of renewable energy consumption has become increasingly prominent. This paper establishes a power market trading system for renewable energy, with the aim of promoting large-scale renewable energy consumpt...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-12-01
|
| Series: | Energies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1996-1073/15/23/9124 |
| _version_ | 1797463257299025920 |
|---|---|
| author | Gaoyuan Xu Xiaojing Wang |
| author_facet | Gaoyuan Xu Xiaojing Wang |
| author_sort | Gaoyuan Xu |
| collection | DOAJ |
| description | The development of renewable energy in China has made remarkable achievements, but the problem of renewable energy consumption has become increasingly prominent. This paper establishes a power market trading system for renewable energy, with the aim of promoting large-scale renewable energy consumption and increasing the enthusiasm of renewable energy producers and users to participate in market transactions. First, according to the power generation cost, the backup cost of renewable energy power plants and the possible quotation strategies of other renewable energy producers, a quotation model of renewable energy producers is established. In the clearing of the spot market by renewable energy producers, the independent market operator conducts the first-stage clearing of the electricity market with the goal of maximizing social welfare. After the announcement of the clearing results, the renewable energy producers that did not win the bid will revise their quotations and carry out the second stage clearing to realize the consumption of renewable energy. In this paper, the particle swarm algorithm combined with the CPLEX solver is used to solve the problem, and finally, different scenarios are analyzed through example analysis. The results show that, compared with the conventional power market trading mechanism, the energy abandonment rate of the power market trading mechanism for renewable energy proposed in this paper drops from 8.2% to 2.1%, and the profit margin of renewable energy producers increase by 6.6%. It is demonstrated that the proposed electricity market mechanism can effectively promote the consumption of renewable energy and increase the income of renewable energy producers. |
| first_indexed | 2024-03-09T17:48:07Z |
| format | Article |
| id | doaj.art-15822edea5274bd3b2a923f619b66286 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-09T17:48:07Z |
| publishDate | 2022-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-15822edea5274bd3b2a923f619b662862023-11-24T10:55:46ZengMDPI AGEnergies1996-10732022-12-011523912410.3390/en15239124Research on the Electricity Market Clearing Model for Renewable EnergyGaoyuan Xu0Xiaojing Wang1School of Electrical Engineering, Xinjiang University, Urumqi 830017, ChinaSchool of Electrical Engineering, Xinjiang University, Urumqi 830017, ChinaThe development of renewable energy in China has made remarkable achievements, but the problem of renewable energy consumption has become increasingly prominent. This paper establishes a power market trading system for renewable energy, with the aim of promoting large-scale renewable energy consumption and increasing the enthusiasm of renewable energy producers and users to participate in market transactions. First, according to the power generation cost, the backup cost of renewable energy power plants and the possible quotation strategies of other renewable energy producers, a quotation model of renewable energy producers is established. In the clearing of the spot market by renewable energy producers, the independent market operator conducts the first-stage clearing of the electricity market with the goal of maximizing social welfare. After the announcement of the clearing results, the renewable energy producers that did not win the bid will revise their quotations and carry out the second stage clearing to realize the consumption of renewable energy. In this paper, the particle swarm algorithm combined with the CPLEX solver is used to solve the problem, and finally, different scenarios are analyzed through example analysis. The results show that, compared with the conventional power market trading mechanism, the energy abandonment rate of the power market trading mechanism for renewable energy proposed in this paper drops from 8.2% to 2.1%, and the profit margin of renewable energy producers increase by 6.6%. It is demonstrated that the proposed electricity market mechanism can effectively promote the consumption of renewable energy and increase the income of renewable energy producers.https://www.mdpi.com/1996-1073/15/23/9124renewable energy consumptionelectricity spot marketclearing mechanismwind power photovoltaic |
| spellingShingle | Gaoyuan Xu Xiaojing Wang Research on the Electricity Market Clearing Model for Renewable Energy Energies renewable energy consumption electricity spot market clearing mechanism wind power photovoltaic |
| title | Research on the Electricity Market Clearing Model for Renewable Energy |
| title_full | Research on the Electricity Market Clearing Model for Renewable Energy |
| title_fullStr | Research on the Electricity Market Clearing Model for Renewable Energy |
| title_full_unstemmed | Research on the Electricity Market Clearing Model for Renewable Energy |
| title_short | Research on the Electricity Market Clearing Model for Renewable Energy |
| title_sort | research on the electricity market clearing model for renewable energy |
| topic | renewable energy consumption electricity spot market clearing mechanism wind power photovoltaic |
| url | https://www.mdpi.com/1996-1073/15/23/9124 |
| work_keys_str_mv | AT gaoyuanxu researchontheelectricitymarketclearingmodelforrenewableenergy AT xiaojingwang researchontheelectricitymarketclearingmodelforrenewableenergy |