Optimal Bidding of a Microgrid Based on Probabilistic Analysis of Island Operation

Lee, Siyoung; Jin, Young Gyu; Jang, Gilsoo; Yoon, Yong-Tae

doi:10.3390/en9100814

Cited by 3 publications

(3 citation statements)

References 24 publications

(55 reference statements)

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“…Time series data is employed to model the uncertainties of wind speed and demand in the operation problem of MGs. The operation problem of an MG in stand-alone mode is modeled using probabilistic approach in [18]. Moreover, in [19], to mitigate the impact of RER's uncertainties, a novel approach to optimal energy and reserve scheduling of DGs and ESs is proposed.…”

Section: Literature Review and Contributionsmentioning

confidence: 99%

Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs

et al. 2018

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The operation problem of a micro-grid (MG) in grid-connected mode is an optimization one in which the main objective of the MG operator (MGO) is to minimize the operation cost with optimal scheduling of resources and optimal trading energy with the main grid. The MGO can use incentive-based demand response programs (DRPs) to pay an incentive to the consumers to change their demands in the peak hours. Moreover, the MGO forecasts the output power of renewable energy resources (RERs) and models their uncertainties in its problem. In this paper, the operation problem of an MGO is modeled as a risk-based two-stage stochastic optimization problem. To model the uncertainties of RERs, two-stage stochastic programming is considered and conditional value at risk (CVaR) index is used to manage the MGO's risk-level. Moreover, the non-linear economic models of incentive-based DRPs are used by the MGO to change the peak load. The numerical studies are done to investigate the effect of incentive-based DRPs on the operation problem of the MGO. Moreover, to show the effect of the risk-averse parameter on MGO decisions, a sensitivity analysis is carried out.

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Section: Literature Review and Contributionsmentioning

confidence: 99%

Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs

et al. 2018

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“…(This Paper) Naive auction-inspired algorithm [17] Stochastic modeling, stochastic dynamic programming [18] Pattern search algorithm [19] Hybrid stochastic, robust optimization [20] Auction theory, weighted majority algorithmm [21] Sequentially coordinated operation [22] Robust optimization…”

Section: References Algorithm For Solving Energy Transactionmentioning

confidence: 99%

“…16: else E(GA) = E(LA) 17: AA solves the symmetrical assignment problem and sets a transaction price. 18: end if 19: AA announces new transaction price ρ * (t) to all microgrids. 20: Surplus/deficit generation p * e (t) is exchanged between microgrids as well as the main grid/DSO.…”

mentioning

confidence: 99%

Optimal Energy Scheduling and Transaction Mechanism for Multiple Microgrids

2017

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Abstract:In this paper, we propose a framework for optimal energy scheduling combined with a transaction mechanism to enable multiple microgrids to exchange their energy surplus/deficit with others while the distributed networks of microgrids remain secure. Our framework is based on two layers: a distributed network layer and a market layer. In the distributed network layer, we first solve optimal power flow (OPF) using a predictor corrector proximal multiplier algorithm to optimally dispatch diesel generation considering renewable energy and power loss within a microgrid. Then, in the market layer, the agent of microgrid behaves either as a load agent or generator agent so that the auctioneer sets a reasonable transaction price for both agents by using the naive auction-inspired algorithm. Finally, energy surplus/deficit is traded among microgrids at a determined transaction price while the main grid balances the transaction. We implement the proposed mechanism in MATLAB (Matlab Release 15, The MathWorks Inc., Natick, MA, USA) using an optimization solver, CVX. In the case studies, we compare four scenarios depending on whether OPF and/or energy transaction is performed or not. Our results show that the joint consideration of OPF and energy transaction achieves as minimal a cost as the ideal case where all microgrids are combined into a single microgrid (or called grand-microgrid) and OPF is performed. We confirm that, even though microgrids are operated by private owners who are not collaborated, a transaction-based mechanism can mimic the optimal operation of a grand-microgrid in a scalable way.

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Bi-Level Coordinated Operation Strategy of Multiple Microgrids in Multi-Time Scale

Yang¹,

Du²,

Guo³

et al. 2023

Electric Power Components and Systems

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Optimal Bidding of a Microgrid Based on Probabilistic Analysis of Island Operation

Cited by 3 publications

References 24 publications

Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs

Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs

Optimal Energy Scheduling and Transaction Mechanism for Multiple Microgrids

Bi-Level Coordinated Operation Strategy of Multiple Microgrids in Multi-Time Scale

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