Optimal bidding strategy for virtual power plants considering the feasible region of vehicle‐to‐grid

Abstract

With the rapid development of vehicle‐to‐grid (V2G) technology, the use of the internet of things and advanced information technology to achieve the optimal dispatch of large‐scale plug‐in electric vehicles (PEVs) has become an important focus of scientific research and engineering practice worldwide. In order to achieve a balance between mass distributed energy resources and the secure and economic operation of the power grid, the authors propose an optimal market bidding strategy for a virtual power plant considering the feasible region of V2G. A detailed battery model considering the V2G mode of PEVs is established. A two‐stage stochastic optimisation model for the virtual power plant considering massive volumes of PEVs is built, taking into account the day‐ahead market revenue and the costs brought about by real‐time market deviations. Three bidding strategies—PEVs charging immediately after arrival, without V2G, and considering V2G—are compared using case studies to demonstrate the efficiency and effectiveness of the proposed strategy. Through the complete interaction between PEVs and the virtual power plant, this V2G‐based strategy can coordinate distributed energy resources, promote the accommodation of renewable energy, and significantly improve the economy of the virtual power plant operation.

Modeling, Optimization, and Analysis of a Virtual Power Plant Demand Response Mechanism for the Internal Electricity Market Considering the Uncertainty of Renewable Energy Sources

“…The wind speed variation in a specific area is modeled using the Weibull PDF [22][23][24]. The PDF function that correlates the wind speed and the WT module output power is expressed by [1].…”

“…Typically, this is due to the following factors: global concern about climate change, carbonization of the environment, pollution, and clean energy requirements. Many countries, including China, America, Germany, Australia, UK, and Europe, have started incentive programs to encourage investment in renewable power plants, enabling these plants to participate in the power market or offer reserve capacity services to power systems [1][2][3][4][5].…”