Risk-based Optimal Bidding and Operational Scheduling of a Virtual Power Plant Considering Battery Degradation Cost and Emission

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dc.contributor.authorAkkas, Ozge Pinar
dc.contributor.authorCam, Ertugrul
dc.date.accessioned2025-01-21T16:44:17Z
dc.date.available2025-01-21T16:44:17Z
dc.date.issued2023
dc.departmentKırıkkale Üniversitesi
dc.description.abstractA virtual power plant (VPP) is a system combining various types of distributed energy resources (DERs) to provide a reliable power system operation. It provides the advantage of making changes in generation according to variety, price, and demand conditions with bringing renewable energy sources (RES) in a single portfolio and using their flexibility. In this study, it is tried to find optimal bidding and operational scheduling of a VPP containing Wind Power Plant (WPP), Photovoltaic Power Plant (PVPP), Heat-Only Unit (HOU), Battery Energy Storage System (BESS), Combined Heat and Power Plant (CHPP), and electrical/thermal demands and participating in the day-ahead electricity market in 24-h time interval. It is aimed to maximize profit and minimize emissions with considering the battery cost. A stochastic model is formed by considering the uncertainty arising from RES. In addition, CVaR (Conditional Value at Risk) as a risk measurement technique is applied against the risk arising from low profit scenarios. The proposed optimization problem formulated as a stochastic Mixed Integer Nonlinear Programming (MINLP) model and is solved by solver LINDO in GAMS (General Algebraic Modelling System). The case studies are implemented to show the applicability and effectiveness of the presented model.
dc.description.sponsorshipKirikkale University Scientific Research and Projects Coordination Office [2018/009]
dc.description.sponsorshipThis work was supported in part by Kirikkale University Scientific Research and Projects Coordination Office with the grant number 2018/009.
dc.identifier.endpage28
dc.identifier.issn1582-7445
dc.identifier.issn1844-7600
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85164345741
dc.identifier.scopusqualityQ3
dc.identifier.startpage19
dc.identifier.urihttps://hdl.handle.net/20.500.12587/25411
dc.identifier.volume23
dc.identifier.wosWOS:001009953400003
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherUniv Suceava, Fac Electrical Eng
dc.relation.ispartofAdvances In Electrical and Computer Engineering
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241229
dc.subjectdistributed power generation; energy management; power system planning; renewable energy sources; risk analysis
dc.titleRisk-based Optimal Bidding and Operational Scheduling of a Virtual Power Plant Considering Battery Degradation Cost and Emission
dc.typeArticle

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