Optimum bidding strategy for wind and solar power plants in day-ahead electricity market

Date

2021-01-01

Author

Özcan, Mehmet
Keysan, Ozan
Satır, Benhür

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

220
views

0
downloads

There are two possible strategies for wind power plants (WPPs) and solar power plants (SPPs) to maximize their income in day ahead markets (DAM) in the presence of imbalance cost: joint bidding (JB) via collaboration by participating to balancing groups and deployment of storage technologies. There are limited studies in the literature covering the comparative analysis of “JB strategy” with “battery deployment (BD) strategy”. In the existence of balancing responsibility, the comparative analysis of these strategies is the main contribution of this study to the literature. Our Second contribution is the analysis of the impact of different regulatory regimes, which are set by the regulatory authority, on total income. JBM (joint bidding model), which is the model for joint bidding via different collaboration groups, is developed for the analysis of JB strategy, BDM (battery deployment model), which is the model covering the deployment of storage technology, is developed for the analysis of BD strategy. The impact of each strategy on total income is analyzed. According to the analysis of the results of the models, while JB strategy, which is sensitive to the regulatory regime, increases the total annual income of the collaboration groups up to 0.65%, BD strategy seems not feasible and financially viable. On the other hand, extra income values per MW of battery for SPP is between $218 and $400 /MW-year, while these values are between $2460 and $6795/MW-year for the group of 15 WPPs. Therefore, deployment of battery for WPPs creates extra income more than tenfold of that of SPP. BD strategy can be viable provided that the levelized cost of deployment of battery drops below the extra income values achieved per MW of battery.

URI

https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85109158273&origin=inward
https://hdl.handle.net/11511/91397

Journal

Energy Systems

DOI

https://doi.org/10.1007/s12667-021-00441-z

Collections

Department of Electrical and Electronics Engineering, Article

Suggestions

OpenMETU
Core

Planar perovskite solar cells with metal oxide transport layers by co-evaporation and hybrid vapor-solution sequential method Soltanpoor, Wiri; Yerci, Selçuk; Department of Micro and Nanotechnology (2020) The recent success in achieving beyond 25% efficiency with perovskite solar cells (PSC) has called for further upgrading the fabrication techniques to meet the scalability requirements of the photovoltaic (PV) industry. Co-evaporation and a hybrid vapor-solution technique have been shown to produce uniform and efficient planar PSCs. Therefore, in this study, co-evaporation method was optimized studying the partial pressure of the organic precursor. Later electron transport layers in n-i-p and p-i-n structur...
Determining Photovoltaic Module Performance and Comparisons Karaveli, Abdullah Buğrahan; ÖZDEN, TALAT; Akınoğlu, Bülent Gültekin (2018-11-14) Knowing electricity production potential of a photovoltaic (PV) system prior to installation is very beneficial for the investor to see the feasibility of the investment. There are three procedures that can be followed to calculate the potential electricity production of any system under different conditions. These are installation of sample systems and gathering data over time, the use of some databases/software programs to reach the performances and developing new model/methodology to make these estimatio...
Sizing of Photovoltaic-Wind-Battery Hybrid System for a Mediterranean Island Community Based on Estimated and Measured Meteorological Data Sadati, S. M. Sajed; Jahani, Elham; Taylan, Onur; Baker, Derek Keıth (2018-02-01) Deploying renewable energy systems (RES) to supply electricity faces many challenges related to cost and the variability of the renewable resources. One possible solution to these challenges is to hybridize RES with conventional power systems and include energy storage units. In this study, the feasibility analysis of a grid-connected photovoltaic (PV)wind-battery hybrid system is presented as a microgrid for a university campus-scale community on a Mediterranean island. Models for PV and wind turbine syste...
Assessment of renewable energy based micro-grids for small communities Sadati, S.M. Sajed; Taylan, Onur; Sustainable Environment and Energy Systems (2016-7) Deploying renewable energy systems to supply electricity faces many challenges related to cost and variability of the renewable resources. One possible solution to these challenges is to hybridize renewable energy systems with conventional power systems and include energy storage systems. In this study, the feasibility analysis of two cases for electricity generation systems as (i) photovoltaic (PV)-battery-pumped hydro system (PHS) and (ii) PV-wind-battery are presented as a Renewable Energy Micro-Gr...
Technical potential of rooftop solar photovoltaic for Ankara Kutlu, Elif Ceren; Durusoy, Beyza; Ozden, Talat; Akınoğlu, Bülent Gültekin (2022-02-01) Turkey, which has immense solar potential, has recently shifted towards solar energy and new renewable energy deployment regulations, including implementation and commercializing rooftop PV technologies. Thus, these require a detailed assessment to determine the power source's capability and convince the policymakers. To the authors' best knowledge, there is no available data or a city-based study for the rooftop PV potential in Turkey. Here, we present the first city-based rooftop PV potential study in Ank...

Citation Formats

M. Özcan, O. Keysan, and B. Satır, “Optimum bidding strategy for wind and solar power plants in day-ahead electricity market,” Energy Systems, pp. 0–0, 2021, Accessed: 00, 2021. [Online]. Available: https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85109158273&origin=inward.