Transaction Decision-Making of Wind/Photovoltaic/Energy Storage Joint Participation in Spot Market under Renewable Portfolio Standards

doi:10.11930/j.issn.1004-9649.202306053

Abstract

Abstract:

The parallel promotion of renewable portfolio standards (RPSs) and spot market construction leads to changes in the transaction decisions of wind power producers, photovoltaic producers, and energy storage power stations jointly participating in the spot market. This paper constructs a bi-level transaction decision-making model to solve and analyze the transaction decisions of wind/photovoltaic/energy storage jointly participating in the day-ahead energy and frequency modulation auxiliary service markets under RPSs. The upper level of the model solves the optimal transaction strategy of wind/photovoltaic/energy storage with the goal of maximizing the overall profit by considering the modulation within wind/photovoltaic/energy storage. The lower level realizes the joint clearing of the day-ahead energy and frequency modulation auxiliary service markets and the clearing of the green certificate market. Then, by using Karush-Kuhn-Tucker (KKT) conditions, the strong duality theorem, and other methods, the bi-level model is recast into a mixed-integer linear programming problem to be solved. Finally, an example is given to verify the effectiveness of the proposed model. The results show that the proposed framework and model in this paper can optimize the bidding strategies of wind/photovoltaic/energy storage. The introduction of the RPSs enriches the arbitrage means of wind/photovoltaic/energy storage, and the modulation within wind/photovoltaic/energy storage is more active. The changes of wind/photovoltaic penetration level and ratio of RPSs have an important influence on the transaction decisions of wind/photovoltaic/energy storage.

Key words: wind/photovoltaic/energy storage, renewable portfolio standards, energy market, frequency modulation auxiliary service market, bi-level transaction decision-making model

Qunli WU, Xinyu ZHU. Transaction Decision-Making of Wind/Photovoltaic/Energy Storage Joint Participation in Spot Market under Renewable Portfolio Standards[J]. Electric Power, 2024, 57(4): 77-88.

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URL: https://www.electricpower.com.cn/EN/10.11930/j.issn.1004-9649.202306053

https://www.electricpower.com.cn/EN/Y2024/V57/I4/77

Figures/Tables 13

Fig.1 Framework of wind/photovoltaic/energy storage participating in transaction of joint markets

Fig.2 Bi-level transaction decision-making model

Fig.3 Solution process of green certificates issued to energy storage

Fig.4 Supply and demand curves of green certificates

Table 1 Bidding information of conventional units

机组	额定功率/ MW	发电报价/ (元·(MW·h)^–1)	调频容量/ MW	调频容量报价/ (元·(MW·h)^–1)	调频里程报价/ (元·(MW·h)^–1)	里程- 容量比
G1	300	191	22	12	15	9
G2	150	190	0	—	—	—
G3	300	177	20	13	16	12
G4	160	165	16	16	18	12
G5	300	150	0	—	—	—
G6	200	185	24	15	14	11

Fig.5 Wind power output curve, photovoltaic output curve, and load curve on a typical day

Fig.6 Variation curves of market load and energy storage residual capacity under SM and STM scenarios

Fig.7 Amount of wind/photovoltaic charge and energy storage charge/discharge under SM and STM scenarios

Fig.8 Bidding results in energy market under SM and STM scenarios

Fig.9 Bidding ratio in frequency modulation auxiliary service market under SM and STM scenarios

Fig.10 Amount of wind/photovoltaic charge and energy storage charge/discharge under different wind/photovoltaic penetration levels and RPS ratios

Fig.11 Bidding results in energy market under different wind/photovoltaic penetration levels and RPS ratios

Fig.12 Bidding results in frequency modulation auxiliary service market under different wind/photovoltaic penetration levels and RPS ratios

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