Optimal Scheduling of Virtual Power Plant with Risk Management

  • Yuhang Xia Sichuan University

Abstract

Due to intense electricity consumption, environmental concerns and technological development, a great numberof renewable distributed resources have been widely installed in the distributed network. However, the realitythat renewable distributed resources frequently fluctuate under high penetration makes effective use a challenge.Fortunately, with improved communication architecture and control techniques, this could be achieved by a VirtualPower Plant (VPP). VPP can aggregate various resources in a distributed generation portfolio, by creating onesingle operating profile. The aim of this paper is mainly to analyze optimal scheduling of VPP to maximize itsprofit, with due consideration given to the uncertainty of renewable energy output, such as wind power, and tomake the energy mix respond to system need. A risk quantization method (CVaR) is introduced to deal withuncertainty. This paper presents a VPP scheduling model, which takes VPP total operation cost, traded electricitycost, unit earnings, supply-demand balancing and other constraints into account, with a CVaR assessment methodembedded into this model. According to the scenarios generated by uncertainty of wind power output, numericalresults for a proposed case are discussed. These results show the expected profit of VPP scheduling is closelyassociated with different degrees of confidence , which is a great help for VPP operators when making the tradeoffbetween risk and profit.

Author Biography

Yuhang Xia, Sichuan University
The author is with electrical and information school, Sichuan University, Sichuan Province, China. Currently, he is pursuing the doctoral degree. His research interests are the power system operation with renewable energy sources integration.

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Published
2016-04-04
How to Cite
XIA, Yuhang. Optimal Scheduling of Virtual Power Plant with Risk Management. Journal of Power Technologies, [S.l.], v. 96, n. 1, p. 49--56, apr. 2016. ISSN 2083-4195. Available at: <https://papers.itc.pw.edu.pl/index.php/JPT/article/view/719>. Date accessed: 26 july 2021.
Section
Renewable and Sustainable Energy

Keywords

Distributed generation, Virtual Power Plant (VPP), Conditional value at risk (CVaR), Uncertainty, Profit,

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