Co-optimized trading of hybrid wind power plant with retired EV batteries in energy and reserve markets under uncertainties
- Technical Univ. of Denmark, Lyngby (Denmark)
- SEWPG European Innovation Center (Denmark)
- Aarhus Univ. (Denmark)
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Stanford Univ., CA (United States)
To be competitive in the electricity markets, various technologies have been reported to increase profits of wind farm owners. Combining battery storage system, wind farms can be operated as conventional power plants which promotes the integration of wind power into the power grid. However, high expenses on batteries keep investors away. Retired EV batteries, fortunately, still have enough capacity to be reused and could be obtained at a low price. In this work, a two-stage optimization of a wind energy retired EV battery-storage system is proposed. The economic performance of the proposed system is examined concerning its participation in the frequency containment normal operation reserve (FCR-N) market and the spot market simultaneously. To account uncertainties in the wind farm output, various electricity market prices, and up/down regulation status, a scenario-based stochastic programming method is used. The sizing of the equipment is optimized on top of daily operations of the hybrid system which formulates a mixed-integer linear programming (MILP) problem. Scenarios are generated with the Monte Carlo simulation (MCS) and Roulette Wheel Mechanism (RWM), which are further reduced with the simultaneous backward method (SBM) to increase computational efficiency. A 21 MW wind farm is selected as a case study. Here, the optimization results show that by integrating with a retired EV battery-storage system (RESS) and a bi-directional inverter, the wind farm can increase its profits significantly when forwarding bids in both of the aforementioned electricity markets.
- Research Organization:
- National Renewable Energy Laboratory (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE)
- Grant/Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1579636
- Report Number(s):
- NREL/JA--5400-75634
- Journal Information:
- International Journal of Electrical Power and Energy Systems, Journal Name: International Journal of Electrical Power and Energy Systems Journal Issue: C Vol. 117; ISSN 0142-0615
- Publisher:
- ElsevierCopyright Statement
- Country of Publication:
- United States
- Language:
- English
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