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[Journal:] Energy Reports [ISSN:] 2352-4847 [Volume:] 6 [Issue:] 2 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2020 [Pages:] 622-626
Elsevier, Amsterdam
This paper studies the bidding strategy of a Virtual Power Plant (VPP) in a market of energy and regulation service. The operation of distributed energy resources (DER) and battery energy storage inside the VPP is analyzed. A bidding strategy of the VPP including the spinning reserve contract and day-ahead offering/bidding contract is investigated. A two-stage robust optimization model is proposed to determine the VPP's purchasing/sell power in each contract to maximize the VPP's profit. The uncertainty in the DER and demand is considered in the optimization framework. The proposed model is applied to a small VPP including the photovoltaic (PV) system, battery energy storage (BESS) equipped in a customer.
Energy storage
Electricity market
Robust optimization
Spinning reserve
Virtual Power Plant
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