Study on Two-Stage Trading Optimization of Photovoltaic Energy Storage Station Participating in the Spot Market Considering Uncertainty

• Published in: 2023 3rd International Conference on Electrical Engineering and Control Science (IC2ECS) pp. 710 - 716
• Main Authors: Shen, Junyao, Wang, Er, Du, Yida, Tan, Zhongfu, Shen, Jianfei
• Format: Conference Proceeding
• Language: English
• Published: IEEE 29-12-2023
• Subjects: Photovoltaic energy storage station; Photovoltaic systems; Power markets; Predictive models; Programming; Real-time systems; Spot market; Stochastic processes; Trading Strategy; Two stage optimization; Uncertainty
• DOI: 10.1109/IC2ECS60824.2023.10493619

Photovoltaic energy storage station (PESS) has been highly valued by the country. Aiming at the issue that PESS participates in the bidding and operation plan formulation in the spot power market, a model was established considering the random photovoltaic (PV) output and the uncertain spot market price. The established model adopted a two-stage optimization approach, in which the first stage optimization took into account the benefits and costs of PESS. The objective function was established to make the power station's profits maximum, taking into account constraints such like system power balance and energy storage (ES) operation. The model was established using stochastic chance constrained programming theory to acquire the bidding strategy and the expected operation plan for PESS. Then, according to the winning bid information, the same principle was used to develop the day-ahead operation plan for PESS. To address the uncertainty of the model, an uncertainty function simulation was used. Lastly, the correctness and effectiveness of the established model were evidenced through numerical examples.