Virtual Power Plants: A New Era of Energy Management in Modern Power Systems

Pandey, Anubhav Kumar; Jadoun, Vinay Kumar; Jayalakshmi, N. S.

doi:10.1109/spin52536.2021.9566063

Cited by 3 publications

(1 citation statement)

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“…A VPP is more concerned with flexible resources and indulges in power trading in the energy market and their mode of interconnection is always grid-connected Ref. [36].…”

Section: Vpp Conceptmentioning

confidence: 99%

Real-Time Peak Valley Pricing Based Multi-Objective Optimal Scheduling of a Virtual Power Plant Considering Renewable Resources

2022

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In the era of aiming toward reaching a sustainable ecosystem, the primary focus is to curb the emissions generated by non-conventional resources. One way to achieve this goal is to find an alternative to traditional power plants (TPP) by integrating various distributed energy resources (DERs) via a Virtual Power Plant (VPP) in modern power systems. Apart from reducing emissions, a VPP enhances the monetary benefits to all its participants, including the DER owners, participants, and utility personnel. In this paper, the multi-objective optimal scheduling of the VPP problem considering multiple renewable energy resources has been solved using the multi-objective black widow optimization (MOBWO) algorithm. Renewable resources consist of solar PV modules, wind turbines, fuel cells, electric loads, heat-only units, and CHP units. The weighting factor method was adopted to handle the multi-objective optimal scheduling (MOOS) problem by simultaneously maximizing profit and minimizing emission while satisfying the related constraints. In this research, a peak valley power pricing strategy is introduced and the optimal scheduling of the VPP is attained by performing a multi-objective scheduling strategy (MOSS), which is day-ahead (on an hourly basis) and 15-min based (for a one-day profile), to observe the behavior of the anticipated system with a better constraint handling method. This algorithm is capable of dealing with a complex problem in a reduced computational time, ensuring the attainment of the considered objective functions. The numerical results obtained by the MOBWO algorithm after 100 independent trials were compared with the latest published work showing the effectiveness and suitability of the developed system.

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“…A VPP is more concerned with flexible resources and indulges in power trading in the energy market and their mode of interconnection is always grid-connected Ref. [36].…”

Section: Vpp Conceptmentioning

confidence: 99%