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

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  • Zare Oskouei, Morteza
  • Sadeghi Yazdankhah, Ahmad

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.

Suggested Citation

  • Zare Oskouei, Morteza & Sadeghi Yazdankhah, Ahmad, 2017. "The role of coordinated load shifting and frequency-based pricing strategies in maximizing hybrid system profit," Energy, Elsevier, vol. 135(C), pages 370-381.
    • Handle: RePEc:eee:energy:v:135:y:2017:i:c:p:370-381
    DOI: 10.1016/j.energy.2017.06.150
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    References listed on IDEAS

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    1. Gelchu, Milky Ali & Ehnberg, Jimmy & Shiferaw, Dereje & Ahlgren, Erik O., 2023. "Impact of demand-side management on the sizing of autonomous solar PV-based mini-grids," Energy, Elsevier, vol. 278(PA).
    2. Zare Oskouei, Morteza & Mirzaei, Mohammad Amin & Mohammadi-Ivatloo, Behnam & Shafiee, Mahmood & Marzband, Mousa & Anvari-Moghaddam, Amjad, 2021. "A hybrid robust-stochastic approach to evaluate the profit of a multi-energy retailer in tri-layer energy markets," Energy, Elsevier, vol. 214(C).
    3. Gong, Yu & Liu, Pan & Ming, Bo & Feng, Maoyuan & Huang, Kangdi & Wang, Yibo, 2022. "Identifying the functional form of operating rules for hydro–photovoltaic hybrid power systems," Energy, Elsevier, vol. 243(C).
    4. Oskouei, Morteza Zare & Mohammadi-Ivatloo, Behnam & Abapour, Mehdi & Shafiee, Mahmood & Anvari-Moghaddam, Amjad, 2021. "Privacy-preserving mechanism for collaborative operation of high-renewable power systems and industrial energy hubs," Applied Energy, Elsevier, vol. 283(C).

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