Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach
Today, due to the high penetration of renewable energy resources and restructuring of power systems, photovoltaic power plants (PVPPs) and wind power plants (WPPs) as renewable power plants (RPPs) can participate in the electricity markets. However, the intermittent power generation of RPPs may be c...
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| Format: | Article |
| Language: | English |
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IEEE
2022-01-01
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| Series: | IEEE Access |
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| Online Access: | https://ieeexplore.ieee.org/document/9916205/ |
| _version_ | 1811238242984394752 |
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| author | Amir Mirzapour-Kamanaj Amir Talebi Kazem Zare Behnam Mohammadi-Ivatloo Zulkurnain Abdul-Malek Amjad Anvari-Moghaddam |
| author_facet | Amir Mirzapour-Kamanaj Amir Talebi Kazem Zare Behnam Mohammadi-Ivatloo Zulkurnain Abdul-Malek Amjad Anvari-Moghaddam |
| author_sort | Amir Mirzapour-Kamanaj |
| collection | DOAJ |
| description | Today, due to the high penetration of renewable energy resources and restructuring of power systems, photovoltaic power plants (PVPPs) and wind power plants (WPPs) as renewable power plants (RPPs) can participate in the electricity markets. However, the intermittent power generation of RPPs may be challenging for the owners of these power plants. In order to mitigate the unpredictable and intermittent power generation of RPPs, energy storage systems like compressed air energy storage (CAES) can be an appropriate solution. In this paper, the optimal day-ahead and look-ahead strategic offering and bidding of integrated RPPs and CAES in the electricity market are investigated. Also, a stochastic-robust approach is proposed for modeling renewable generation and electricity price uncertainty. The proposed mixed-integer linear program (MILP) is formulated in GAMS software under the CPLEX solver. Three case studies are investigated to validate the proposed method. According to numerical results, in the optimistic strategy, the coordinator of RPPs and CAES has more opportunities to participate in the electricity market. But in the pessimistic strategy, due to low electricity market (EM) prices, the coordinator has no more tendency to participate in the electricity market compared to the optimistic strategy. |
| first_indexed | 2024-04-12T12:38:24Z |
| format | Article |
| id | doaj.art-43fe5d7b77d8499f96d9ec13f312e572 |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-04-12T12:38:24Z |
| publishDate | 2022-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-43fe5d7b77d8499f96d9ec13f312e5722022-12-22T03:32:50ZengIEEEIEEE Access2169-35362022-01-011010790110791210.1109/ACCESS.2022.32100339916205Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust ApproachAmir Mirzapour-Kamanaj0https://orcid.org/0000-0003-3758-9683Amir Talebi1Kazem Zare2https://orcid.org/0000-0003-4729-1741Behnam Mohammadi-Ivatloo3https://orcid.org/0000-0002-0255-8353Zulkurnain Abdul-Malek4https://orcid.org/0000-0002-7603-7737Amjad Anvari-Moghaddam5https://orcid.org/0000-0002-5505-3252Smart Energy Systems Laboratory, Faculty of Electrical and Computer Engineering, University of Tabriz, Tabriz, IranSmart Energy Systems Laboratory, Faculty of Electrical and Computer Engineering, University of Tabriz, Tabriz, IranFaculty of Electrical and Computer Engineering, University of Tabriz, Tabriz, IranSmart Energy Systems Laboratory, Faculty of Electrical and Computer Engineering, University of Tabriz, Tabriz, IranInstitute of High Voltage and High Current, Faculty of Electrical Engineering, Universiti Teknologi Malaysia, Johor Bahru, MalaysiaDepartment of Energy (AAU Energy), Aalborg University, Aalborg, DenmarkToday, due to the high penetration of renewable energy resources and restructuring of power systems, photovoltaic power plants (PVPPs) and wind power plants (WPPs) as renewable power plants (RPPs) can participate in the electricity markets. However, the intermittent power generation of RPPs may be challenging for the owners of these power plants. In order to mitigate the unpredictable and intermittent power generation of RPPs, energy storage systems like compressed air energy storage (CAES) can be an appropriate solution. In this paper, the optimal day-ahead and look-ahead strategic offering and bidding of integrated RPPs and CAES in the electricity market are investigated. Also, a stochastic-robust approach is proposed for modeling renewable generation and electricity price uncertainty. The proposed mixed-integer linear program (MILP) is formulated in GAMS software under the CPLEX solver. Three case studies are investigated to validate the proposed method. According to numerical results, in the optimistic strategy, the coordinator of RPPs and CAES has more opportunities to participate in the electricity market. But in the pessimistic strategy, due to low electricity market (EM) prices, the coordinator has no more tendency to participate in the electricity market compared to the optimistic strategy.https://ieeexplore.ieee.org/document/9916205/Look-aheadstochastic-robust approachstrategic bidding and offeringrenewable power plantsCAES |
| spellingShingle | Amir Mirzapour-Kamanaj Amir Talebi Kazem Zare Behnam Mohammadi-Ivatloo Zulkurnain Abdul-Malek Amjad Anvari-Moghaddam Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach IEEE Access Look-ahead stochastic-robust approach strategic bidding and offering renewable power plants CAES |
| title | Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach |
| title_full | Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach |
| title_fullStr | Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach |
| title_full_unstemmed | Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach |
| title_short | Optimal Look-Ahead Strategic Bidding/Offering of Integrated Renewable Power Plants and CAES With Stochastic-Robust Approach |
| title_sort | optimal look ahead strategic bidding offering of integrated renewable power plants and caes with stochastic robust approach |
| topic | Look-ahead stochastic-robust approach strategic bidding and offering renewable power plants CAES |
| url | https://ieeexplore.ieee.org/document/9916205/ |
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