The carbon trading operation optimization for virtual power plants of industrial parks considering wind power

Tong, Yongjie; Meng, Zhen; Qiu, Peng; Cui, Jia; Ma, Jun; Yanfeng, Tian; Wang, Zhe

doi:10.1088/1742-6596/2474/1/012032

J. Phys.: Conf. Ser.

2023

DOI: 10.1088/1742-6596/2474/1/012032

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The carbon trading operation optimization for virtual power plants of industrial parks considering wind power

Yongjie Tong

Zhen Meng

Peng Qiu

et al.

Abstract: Virtual power plants can participate in power market transactions by combining wind and solar power generation and energy storage technologies, They participate in energy market transactions for aggregating distributed energy and user-side resources, Meanwhile, the carbon trading market is an effective tool to control the greenhouse effect, As a market subject with unlimited potential, VPP of industrial park plays its environmental benefits by participating in the carbon trading market, It is able to promote t… Show more

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2024

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Cited by 2 publications

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Virtual power plants: an in-depth analysis of their advancements and importance as crucial players in modern power systems

Abdelkader,

Amissah,

Abdel-Rahim

2024

Energ Sustain Soc

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Background Virtual power plants (VPPs) represent a pivotal evolution in power system management, offering dynamic solutions to the challenges of renewable energy integration, grid stability, and demand-side management. Originally conceived as a concept to aggregate small-scale distributed energy resources, VPPs have evolved into sophisticated enablers of diverse energy assets, including solar panels, wind turbines, battery storage systems, and demand response units. This review article explores the evolution of VPPs and their pivotal roles as major stakeholders within contemporary power systems. The review opens with a definition of VPPs that clarifies both their fundamental traits and technological foundations. A historical examination of their development highlights major turning points and milestones that illustrate their transforming journey. Main text The methodology used for this article entailed a thorough examination to identify relevant studies, articles, and scholarly works related to virtual power plants. Academic databases were used to gather relevant literature. The literature was organized into categories helping to structure and present information in a logical flow based on the outline created for the review article. The discussions in the article show that the various functions that VPPs perform in power systems are of major interest. VPPs promote the seamless integration of renewable energy sources and provide optimum grid management by aggregating distributed energy resources, which improves sustainability. One of the important components of this evaluation involves taking market and policy considerations. Examining worldwide market patterns and forecasts reveals that VPP usage is rising, and that regulatory frameworks and incentives have a bigger impact on how well they integrate. Conclusion Overcoming obstacles is a necessary step towards realizing full VPP potential. For VPPs to be widely adopted, it is still essential to address technological and operational challenges as they arise. Diverse stakeholders must work together to overcome market obstacles and promote the expansion of the VPP market. This analysis highlights the potential for VPPs to propel the evolution of contemporary power systems toward a more sustainable and effective future by highlighting areas for future research and development.

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Virtual power plants: an in-depth analysis of their advancements and importance as crucial players in modern power systems

Abdelkader,

Amissah,

Abdel-Rahim

2024

Energ Sustain Soc

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Study of Two-Stage Economic Optimization Operation of Virtual Power Plants Considering Uncertainty

Sun,

Liu,

et al. 2024

Energies

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In a highly competitive electricity spot market, virtual power plants (VPPs) that aggregate dispersed resources face various uncertainties during market transactions. These uncertainties directly impact the economic benefits of VPPs. To address the uncertainties in the economic optimization of VPPs, scenario analysis is employed to transform the uncertainties of wind turbines (WTs), photovoltaic (PV) system outputs, and electricity prices into deterministic problems. The objective is to maximize the VPP’s profits in day-ahead and intra-day markets (real-time balancing market) by constructing an economic optimization decision model based on two-stage stochastic programming. Gas turbines and electric vehicles (EVs) are scheduled and traded in the day-ahead market, while flexible energy storage systems (ESS) are deployed in the real-time balancing market. Based on simulation analysis, under the uncertainty of WTs and PV system outputs, as well as electricity prices, the proposed model demonstrates that orderly charging of EVs in the day-ahead stage can increase the revenue of the VPP by 6.1%. Additionally, since the ESS can adjust the deviations in day-ahead bid output during the intra-day stage, the day-ahead bidding strategy becomes more proactive, resulting in an additional 3.1% increase in the VPP revenue. Overall, this model can enhance the total revenue of the VPP by 9.2%.

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The carbon trading operation optimization for virtual power plants of industrial parks considering wind power

Cited by 2 publications

References 5 publications

Virtual power plants: an in-depth analysis of their advancements and importance as crucial players in modern power systems

Virtual power plants: an in-depth analysis of their advancements and importance as crucial players in modern power systems

Study of Two-Stage Economic Optimization Operation of Virtual Power Plants Considering Uncertainty

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