A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment
This paper presents a novel energy-management method for a microgrid that includes renewable energy, diesel generators, battery storage, and various loads. We assume that the microgrid takes part in a pool market and responds actively to the electricity price to maximize its profit by scheduling its...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
IEEE
2016-01-01
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| Series: | IEEE Access |
| Subjects: | |
| Online Access: | https://ieeexplore.ieee.org/document/7458822/ |
| _version_ | 1818877156462166016 |
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| author | Jingshuang Shen Chuanwen Jiang Yangyang Liu Xu Wang |
| author_facet | Jingshuang Shen Chuanwen Jiang Yangyang Liu Xu Wang |
| author_sort | Jingshuang Shen |
| collection | DOAJ |
| description | This paper presents a novel energy-management method for a microgrid that includes renewable energy, diesel generators, battery storage, and various loads. We assume that the microgrid takes part in a pool market and responds actively to the electricity price to maximize its profit by scheduling its controllable resources. To address various uncertainties, a risk-constrained scenario-based stochastic programming framework is proposed using the conditional value at risk method. The designed model is solved by two levels of stochastic optimization methods. One level of optimization is to submit optimal hourly bids to the day-ahead market under the forecast data. The other level of optimization is to determine the optimal scheduling using the scenario-based stochastic data of the uncertain resources. The proposed energy management system is not only beneficial for the microgrid and customers, but also applies the microgrid aggregator and virtual power plant. The results are shown to prove the validity of the proposed framework. |
| first_indexed | 2024-12-19T13:53:48Z |
| format | Article |
| id | doaj.art-cdc12c9dd6374a32b32a0c5f98c5dd3d |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-12-19T13:53:48Z |
| publishDate | 2016-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-cdc12c9dd6374a32b32a0c5f98c5dd3d2022-12-21T20:18:38ZengIEEEIEEE Access2169-35362016-01-0142349235610.1109/ACCESS.2016.25559267458822A Microgrid Energy Management System and Risk Management Under an Electricity Market EnvironmentJingshuang Shen0https://orcid.org/0000-0003-0167-5459Chuanwen Jiang1Yangyang Liu2Xu Wang3 Shanghai Jiao Tong University, Shanghai, China Shanghai Jiao Tong University, Shanghai, China Shanghai Jiao Tong University, Shanghai, China Shanghai Jiao Tong University, Shanghai, ChinaThis paper presents a novel energy-management method for a microgrid that includes renewable energy, diesel generators, battery storage, and various loads. We assume that the microgrid takes part in a pool market and responds actively to the electricity price to maximize its profit by scheduling its controllable resources. To address various uncertainties, a risk-constrained scenario-based stochastic programming framework is proposed using the conditional value at risk method. The designed model is solved by two levels of stochastic optimization methods. One level of optimization is to submit optimal hourly bids to the day-ahead market under the forecast data. The other level of optimization is to determine the optimal scheduling using the scenario-based stochastic data of the uncertain resources. The proposed energy management system is not only beneficial for the microgrid and customers, but also applies the microgrid aggregator and virtual power plant. The results are shown to prove the validity of the proposed framework.https://ieeexplore.ieee.org/document/7458822/Controllable loadSmart gridEnergy managementElectricity marketMicrogridRenewable energy |
| spellingShingle | Jingshuang Shen Chuanwen Jiang Yangyang Liu Xu Wang A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment IEEE Access Controllable load Smart grid Energy management Electricity market Microgrid Renewable energy |
| title | A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment |
| title_full | A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment |
| title_fullStr | A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment |
| title_full_unstemmed | A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment |
| title_short | A Microgrid Energy Management System and Risk Management Under an Electricity Market Environment |
| title_sort | microgrid energy management system and risk management under an electricity market environment |
| topic | Controllable load Smart grid Energy management Electricity market Microgrid Renewable energy |
| url | https://ieeexplore.ieee.org/document/7458822/ |
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