Review of virtual power plant operations: Resource coordination and multidimensional interaction

Gao, Hongchao; Jin, Tai; Feng, Cheng; Li, Chuyi; Chen, Qixin; Kang, Chongqing

doi:10.1016/j.apenergy.2023.122284

Cited by 16 publications

(3 citation statements)

References 111 publications

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“…Another challenge is maintaining the privacy of DERs owners, as sensitive operational data are transmitted to the central operator. Additionally, the centralized processing model introduces the risk of a single-point failure, which could potentially lead to a systemic collapse [23].…”

Section: Vpp-based Economic Dispatchmentioning

confidence: 99%

Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review

Marzbani,

Abdelfatah

2024

Energies

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Economic Dispatch Problems (EDP) refer to the process of determining the power output of generation units such that the electricity demand of the system is satisfied at a minimum cost while technical and operational constraints of the system are satisfied. This procedure is vital in the efficient energy management of electricity networks since it can ensure the reliable and efficient operation of power systems. As power systems transition from conventional to modern ones, new components and constraints are introduced to power systems, making the EDP increasingly complex. This highlights the importance of developing advanced optimization techniques that can efficiently handle these new complexities to ensure optimal operation and cost-effectiveness of power systems. This review paper provides a comprehensive exploration of the EDP, encompassing its mathematical formulation and the examination of commonly used problem formulation techniques, including single and multi-objective optimization methods. It also explores the progression of paradigms in economic dispatch, tracing the journey from traditional methods to contemporary strategies in power system management. The paper categorizes the commonly utilized techniques for solving EDP into four groups: conventional mathematical approaches, uncertainty modelling methods, artificial intelligence-driven techniques, and hybrid algorithms. It identifies critical research gaps, a predominant focus on single-case studies that limit the generalizability of findings, and the challenge of comparing research due to arbitrary system choices and formulation variations. The present paper calls for the implementation of standardized evaluation criteria and the inclusion of a diverse range of case studies to enhance the practicality of optimization techniques in the field.

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Section: Vpp-based Economic Dispatchmentioning

confidence: 99%

Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review

Marzbani,

Abdelfatah

2024

Energies

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“…The following studies were cited in the literature review as being particularly significant and relevant. The authors of [14] provided a comprehensive analysis of the challenges and solutions associated with the functioning of VPPs. The fact that it explores the intricacies that arise from uncertain resource characteristics, control features, information systems, and strategic relationships among stakeholders is notable.…”

Section: Existing Literature and Research Gapmentioning

confidence: 99%

Virtual Power Plants: Challenges, Opportunities, and Profitability Assessment in Current Energy Markets

Ullah,

Arshad,

Nekahi

2024

Electricity

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The arrival of virtual power plants (VPPs) marks important progress in the energy sector, providing optimistic solutions to the increasing need for energy flexibility, resilience, and improved energy systems’ integration. VPPs harness several characteristics to bring together distributed energy resources (DERs), resulting in economic gains and improved power grid reliability. Nevertheless, VPPs encounter major challenges when it comes to engaging in energy markets, mainly because there is no all-encompassing policy and regulatory framework specifically designed to accommodate their unique characteristics. This underscores the necessity for research endeavours to develop more advanced methods and structures for the long-term viability of VPPs. To address this concern, the study advocates for the implementation of a multi-aspect framework (MAF) as a systematic approach to thoroughly examine each aspect of virtual power plants (VPPs). A STEEP (social, technological, environmental, economic, and political) analytical tool is utilized to evaluate the challenges, opportunities, and benefits of a VPP in the existing energy markets. The proposed approach highlights important factors and actions that need to be taken to tackle the challenges related to VPP’ entry into energy markets. This study suggests that further support is required to promote the fast and widespread adoption of long-term VPP implementations. For this reason, a more favourable policy and regulatory framework based on social, technological, economic, environmental, and policy considerations is necessary to realize the genuine contributions of VPPs.

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“…This aggregation is made within integrated portfolios through optimization, and control. In order not to abstract from our main subject, the readers who need more information on VPPs and distributed generation can read the works of Gao et al [2], and Naraindath et al [3].…”

Section: Introductionmentioning

confidence: 99%

Electricity Demand, Forecasting the Peaks: Development and Implementation of C-EVA Method

Theodorou,

Christopoulos

2024

GLCE

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Price spikes in electricity markets are very frequent, posing tremendous burden on household income and on manufacturing cost. Electricity demand (load) can be divided in two parts, energy (MWh) and peak (MW) and most of time peak is responsible for the price spikes. Literature review while devoting most of the discussion to energy, lags in the investigation of peak. In this research, a model for peak demand analysis and forecasting is developed. The model is based on a portfolio of cluster and extreme value analysis (C-EVA) methods using UIK, EDE and WSL innovations for the optimal determination of clusters and the daily peaks divulgence. C-EVA method consists of the Clustering part for optimal number of clusters determination and classification of day and month of peak, and the part of Extreme Value Analysis for computation of the statistical confidence interval for the load maxima. C-EVA after using all the currently available load maxima, estimates statistically the expected worst-case scenario for peaks of loads. Load peaks will be determined by EVA based on an estimated bimodal distribution while a signaling method will prompt the probability of extremes. The added value of the proposed method is that does not reject the extreme values as most methodologies do. Extreme Value Analysis for maxima and minima provide estimators for highest and lowest expected hourly load, while giving the confidence interval of the return level using an optimization method for the selection of a rolling time window, as the return period. It was found that distributed generation of renewables create a camel effect on the load peaks which increases sharpness. The proposed methodology solved this issue while opening the ground for future research for the role of storage, batteries as well as for virtual power plants as an integrated portfolio of renewables generation.

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Review of virtual power plant operations: Resource coordination and multidimensional interaction

Cited by 16 publications

References 111 publications

Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review

Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review

Virtual Power Plants: Challenges, Opportunities, and Profitability Assessment in Current Energy Markets

Electricity Demand, Forecasting the Peaks: Development and Implementation of C-EVA Method

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