Abstract
Coordinated operation of various energy sources has drawn the attention of many power producers worldwide. In this paper, a Concentrating Solar Power Plant (CSPP) along with a wind power station, a Compressed Air Energy Storage (CAES) unit, and a Demand Response Provider (DRP) constitute the considered Hybrid Power Producer (HPP). In this regard, this paper deals with the optimal participation of the mentioned HPP in the Day-Ahead (DA), and intraday electricity markets by benefiting from the joint configuration of all accessible resources. To attain risk-averse strategies in the suggested model, Conditional Value-at-Risk (CVaR) based on the ϵ-constraint technique is employed, while its efficiency is validated compared to the previously applied method to such problems. On the whole, the main contributions of this work lie in: 1) proposing a novel model for optimal behavior of a CSPP-based HPP in DA, and intraday markets using a three-stage decision-making architecture, and 2) developing a bi-objective optimization framework to improve the functioning of the risk-constrained algorithm. Simulation results reveal that taking advantage of the CSPP in the intraday market, and coordinated operation of all resources not only enhance the profitability of the system but also lessen the associated risk compared to the previous models.
Original language | English |
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Article number | 9204677 |
Journal | I E E E Transactions on Sustainable Energy |
Volume | 12 |
Issue number | 2 |
Pages (from-to) | 931-943 |
Number of pages | 13 |
ISSN | 1949-3029 |
DOIs | |
Publication status | Published - Apr 2021 |
Keywords
- Compressed Air Energy Storage (CAES)
- Concentrating Solar Power Plant (CSPP)
- Demand Response Provider (DRP)
- stochastic programming
- wind farm
- ϵ-constraint method