Valuing Uncertainties in Wind Generation: An Agent-Based Optimization Approach
The increasing integration of variable renewable energy sources such as wind and solar will require new methods of managing generation uncertainty. Existing practices of uncertainty management for these resources largely focuses around modifying the energy offers of such resources in the quantity domain and from a centralized system operator consideration of these uncertainties. This paper proposes an approach to instead consider these uncertainties in the price domain, where more uncertain power is offered at a higher price instead of restricting the quantity offered. We demonstrate system-level impacts on a modified version of the RTS-GMLC system where wind generators create market offers valuing their uncertainties over scenario set of day-ahead production forecasts. The results are compared with a dispatch method in which wind energy is offered at zero marginal price and restricted based on the forecast percentile.
Code (0)
등록된 구현이 없습니다.
Tasks
ManagementMethods 이 논문이 사용한 방법론
Similar Papers 제목 키워드 기반
A Mixed Integer Quadratic Program for Valuing the Impact of Price and Forecast Uncertainty for Wind Generators
Owners of wind power plants are exposed to financial risk in wholesale electricity markets due to the uncertain nature of wind forecasts and price volatility. In the event of a wind shortfall, the plant may have to repur…
Adjustable robust optimization in enabling optimal day-ahead economic dispatch of CCHP-MG considering uncertainties of wind-solar power and electric vehicle
At present, electric vehicles (EVs), small-scale wind power, and solar power have been increasingly integrated into modern power system via the combined cooling heating and power based microgrid (CCHP-MG). However, insid…
Optimize the Co-expansion of Generation and Transmission Considering Wind Power in the US Eastern Interconnection
This paper studies the generation and transmission expansion co-optimization problem with a high wind power penetration rate in large-scale power grids. In this paper, generation and transmission expansion co-optimizatio…
Paper generationRobust Scheduling of Virtual Power Plant under Exogenous and Endogenous Uncertainties
Virtual power plant (VPP) provides a flexible solution to distributed energy resources integration by aggregating renewable generation units, conventional power plants, energy storages, and flexible demands. This paper p…
SchedulingSizing Grid-Connected Wind Power Generation and Energy Storage with Wake Effect and Endogenous Uncertainty: A Distributionally Robust Method
Wind power, as a green energy resource, is growing rapidly worldwide, along with energy storage systems (ESSs) to mitigate its volatility. Sizing of wind power generation and ESSs has become an important problem to be ad…