The role of coordinated load shifting and frequency-based pricing strategies in maximizing hybrid system profit

Morteza Zare Oskouei and Ahmad Sadeghi Yazdankhah

Energy, 2017, vol. 135, issue C, 370-381

Abstract: Nowadays, wind/solar/energy-storage hybrid system is a popular choice to reduce electricity cost. Because of the random nature of renewable generation, it is preferred to implement renewable sources in an autonomous system in coordination with energy storage units, and explore a suitable demand side management approach to compensate the fluctuations in renewable power generation, and adapt with the system load demand. This paper proposes a new strategy for (1) optimal power generation scheduling of wind and photovoltaic sources with the utilization of pump-storage hydro unit, (2) load shifting technique based on the maximum utilization of renewable sources, and (3) maximizing hybrid system profit under incentive-based program (IBP) and frequency-based pricing. The day-ahead load shifting technique proposed in this paper is mathematically formulated as a maximization problem. The use of pump-storage hydro plant in coordination with suitable load shifting technique compensates the uncertainty in wind and solar power generation and maximizes the system profit as well. To verify the efficiency of the method, the strategy is applied to a sample test system. The simulation results demonstrate the effectiveness of the proposed approach.

Keywords: Day-ahead load shifting; Maximum utilization of renewable sources; Maximizing hybrid system profit; Stochastic optimization; Frequency-based pricing; Pumped storage hydro unit (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544217311490
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:135:y:2017:i:c:p:370-381

DOI: 10.1016/j.energy.2017.06.150

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().