Long-Term Decision on Wind Investment with Considering Different Load Ranges of Power Plant for Sustainable Electricity Energy Market

Abstract

The aim of this paper is to provide a bi-level model for the expansion planning on wind investment while considering different load ranges of power plants in power systems at a multi-stage horizon. Different technologies include base load units, such as thermal and water units, and peak load units such as gas turbine. In this model, subsidies are considered as a means to encourage investment in wind turbines. In order that the uncertainties related to demand and the wind turbine can be taken into consideration, these effects are modelled using a variety of scenarios. In addition, the load demand is characterized by a certain number of demand blocks. The first-level relates to the issue of investment in different load ranges of power plants with a view to maximizing the investment profit whilst the second level is related to the market-clearing where the priority is to maximize the social welfare benefits. The bi-level optimization problem is then converted to a dynamic stochastic mathematical algorithm with equilibrium constraint (MPEC) and represented as a mixed integer linear program (MILP) after linearization. The proposed framework is examined on a real transmission network. Simulation results confirm that the proposed framework can be a useful tool for analyzing the investments different load ranges of power plants on long-term strategic decision-making.

Research on Modeling and Hierarchical Scheduling of a Generalized Multi-Source Energy Storage System in an Integrated Energy Distribution System

“…In general, the operation power consumption of DRR has a certain correspondence with the key operation parameters. Taking DRR in operation status n h m E as an example, the physical-power coupling model formed by the key operation parameters can be illustrated by Equations (19) and (20).…”

“…In reference [18], home microgrids consisting of multiple distributed energy resources are taken as players in the market, whose power is well dispatched with the hierarchical bi-level controller. A bi-level model for long-term planning on wind investment is studied in [19], where demand-side resources and wind turbines are coordinated. Considering the link function between primary and secondary energy sources, electricity is taken as the core of IEDS.…”

“…Integration of key parameters using Eq. (20)Load group division based on operation status using Eq (19). Upload the operation control variables of load groups…”

Frequency Distribution Model of Wind Speed Based on the Exponential Polynomial for Wind Farms

“…Investment in renewable energy sources, including wind power plants, is of particular importance because of the increased efficiency of clean energy, and the need to reduce pollution and fuel consumption [1]. As wind generation technologies improve, this form of energy production becomes a valuable alternative to conventional energy sources [2].…”

“…In fact, the exponential polynomial model presented in this paper can also fit the frequency distribution of multimodal wind speed. Meanwhile, there are differences in three main points from the literature [20]: (1) The piecewise cubic polynomial is used for constructing a spline in the literature. When optimizing spline coefficients the values of three functions need to be minimised, including the values of function at each node, and its first derivative values at the first and last nodes.…”