Risk-averse energy dispatch for hybrid energy refueling stations considering Boundedly rational mixed user equilibrium and operational uncertainties

Yuanyi Chen, Yanchong Zheng, Simon Hu, Shiwei Xie and Qiang Yang

Applied Energy, 2024, vol. 376, issue PA, No S0306261924016465

Abstract: Nowadays, charging stations, hydrogen refueling stations, and natural gas refueling stations are being integrated into hybrid energy refueling stations (HERSs) to save investment costs and offer diverse refueling services altogether. This research proposes a risk-averse energy dispatch strategy for HERSs, incorporating bounded user rationality and operational uncertainties. A boundedly rational mixed user equilibrium model is proposed to capture the mobility of heterogeneous traffic flow, including electric vehicles (EVs), hydrogen fuel cell vehicles (HFCVs), and natural gas vehicles (NGVs), each with distinct refueling demands characterized by bounded decision-making rationality. A grid-connected HERS model integrated with carbon capture and storage and on-site renewable energy sources is designed to provide sustainable refueling services to EVs, HFCVs, and NGVs. Furthermore, an HERS operator aggregates multiple HERSs to participate in the day-ahead and real-time electricity markets. The optimal equipment operation and energy bidding strategies for the HERS operator are solved using a risk-averse approach based on conditional value-at-risk, addressing operational uncertainties from heterogeneous refueling demand, electricity markets, and renewable generation. Numerical results have validated the effectiveness of the proposed method in promoting net-zero emissions, securing economic benefits, and mitigating risks associated with operational uncertainties.

Keywords: Bounded rationality; Conditional value-at-risk; Electricity market; Hybrid energy refueling station; Mixed user equilibrium (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306261924016465
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:appene:v:376:y:2024:i:pa:s0306261924016465

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2024.124263

Access Statistics for this article

Applied Energy is currently edited by J. Yan

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