Stochastic Optimization for the Daily Joint Operation of Wind/PV and Energy Storage

Abstract

Abstract. This paper deals with the problem of optimal bidding in a day-ahead market of electricity for a power producer having joint operation of wind with photovoltaic power systems and storage of energy. Uncertainty, not only on electricity market prices, but also on wind and photovoltaic powers, has to be faced in order to achieve optimal bidding. The problem is viewed as a sort of a two-stage stochastic optimization problem formulated by mix-integer linear programming. A case study with data from the Iberian Peninsula is presented and a comparison between joint and disjoint operations is discussed, allowing concluding that the joint operation attenuates the economic impact of disjoint operation volatility.

Optimal operation of battery for wind-storage hybrid power plant

“…[11] focused in modelling the various electricity markets and ways to operate in it. In [8], [9], [11], much effort is put in refining forecasts using various techniques such as neural networks, stochastic analysis or multivariate fitting while in [10] a Monte Carlo approach is used to randomly generate scenarios from the original data. Based on these renewable generation and market forecasts, the bidding strategy is set through an optimisation algorithm often a linear optimisation with the objective of maximising the revenues.…”

“…Based on these renewable generation and market forecasts, the bidding strategy is set through an optimisation algorithm often a linear optimisation with the objective of maximising the revenues. In [8], [9] and [10] even though the market design is really detailed there is a lack of consideration of the battery operation and cycles compared to the articles [3], [5], [6]. There is also a general lack of consideration for the operation over a full year with seasonal variation of price and wind power production.…”