IDEAS home Printed from https://ideas.repec.org/a/eee/rensus/v192y2024ics1364032123010766.html
   My bibliography  Save this article

Multi-objective price based flexible reserve scheduling of virtual power plant

Author

Listed:
  • Pandey, Anubhav Kumar
  • Jadoun, Vinay Kumar
  • Jayalakshmi, N.S.
  • Malik, Hasmat
  • García Márquez, Fausto Pedro

Abstract

In this research, multi-objective optimization of VPP is performed by considering multiple renewables and co-generation sources and solved by using the recently developed multi-objective Harris Hawk’s optimization (MOHHO) algorithm. Renewable sources comprise solar Photovoltaic (PV), wind power, fuel cells along with energy storage systems (ESS), electric vehicles (EV), along with CHP units are associated to form a VPP system. The penalty factor approach is implemented along with the weighting factor to develop a multi-objective framework that can simultaneously capitalize on the net profit and minimalize the emission while taking proper care of the related constraints. In this research, EVs are considered as a flexible reserve option along with a dedicated ESS applicable as a spinning reserve. Also, a dynamic pricing-based strategy is also presented and the optimization of VPP is accomplished by implementing a multi-objective-based day-ahead scheduling (MODAS) to see the behaviour of the anticipated system with a suitable method of constraint handling. Four diverse illustrations are considered in three different case study which is performed for hourly-based scheduling and the results are compared with the proposed technique. Statistical analysis is performed and the quality solution sets are attained by the HHO algorithm after performing 100 independent trials and the same is correlated with the available studies that indicate the efficacy and appropriateness of the selected approach.

Suggested Citation

  • Pandey, Anubhav Kumar & Jadoun, Vinay Kumar & Jayalakshmi, N.S. & Malik, Hasmat & García Márquez, Fausto Pedro, 2024. "Multi-objective price based flexible reserve scheduling of virtual power plant," Renewable and Sustainable Energy Reviews, Elsevier, vol. 192(C).
    • Handle: RePEc:eee:rensus:v:192:y:2024:i:c:s1364032123010766
    DOI: 10.1016/j.rser.2023.114218
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1364032123010766
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.rser.2023.114218?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yuqing Wang & Min Zhang & Jindi Ao & Zhaozhen Wang & Houqi Dong & Ming Zeng, 2022. "Profit Allocation Strategy of Virtual Power Plant Based on Multi-Objective Optimization in Electricity Market," Sustainability, MDPI, vol. 14(10), pages 1-22, May.
    2. Chalermjit Klansupar & Surachai Chaitusaney, 2022. "Optimal Sizing of Grid-Scaled Battery with Consideration of Battery Installation and System Power-Generation Costs," Energies, MDPI, vol. 15(13), pages 1-18, June.
    3. Bianca Goia & Tudor Cioara & Ionut Anghel, 2022. "Virtual Power Plant Optimization in Smart Grids: A Narrative Review," Future Internet, MDPI, vol. 14(5), pages 1-22, April.
    4. Biswas, Partha P. & Suganthan, P.N. & Qu, B.Y. & Amaratunga, Gehan A.J., 2018. "Multiobjective economic-environmental power dispatch with stochastic wind-solar-small hydro power," Energy, Elsevier, vol. 150(C), pages 1039-1057.
    5. Hadayeghparast, Shahrzad & SoltaniNejad Farsangi, Alireza & Shayanfar, Heidarali, 2019. "Day-ahead stochastic multi-objective economic/emission operational scheduling of a large scale virtual power plant," Energy, Elsevier, vol. 172(C), pages 630-646.
    6. Wafa Nafkha-Tayari & Seifeddine Ben Elghali & Ehsan Heydarian-Forushani & Mohamed Benbouzid, 2022. "Virtual Power Plants Optimization Issue: A Comprehensive Review on Methods, Solutions, and Prospects," Energies, MDPI, vol. 15(10), pages 1-20, May.
    7. Naval, Natalia & Yusta, Jose M., 2021. "Virtual power plant models and electricity markets - A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).
    8. Liudong Zhang & Yubo Yuan & Xiaodong Yuan & Bing Chen & Dawei Su & Qiang Li, 2017. "Spinning Reserve Requirements Optimization Based on an Improved Multiscenario Risk Analysis Method," Mathematical Problems in Engineering, Hindawi, vol. 2017, pages 1-12, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Francesco Gulotta & Edoardo Daccò & Alessandro Bosisio & Davide Falabretti, 2023. "Opening of Ancillary Service Markets to Distributed Energy Resources: A Review," Energies, MDPI, vol. 16(6), pages 1-25, March.
    2. Mostafa Darvishi & Mehrdad Tahmasebi & Ehsan Shokouhmand & Jagadeesh Pasupuleti & Pitshou Bokoro & Jwan Satei Raafat, 2023. "Optimal Operation of Sustainable Virtual Power Plant Considering the Amount of Emission in the Presence of Renewable Energy Sources and Demand Response," Sustainability, MDPI, vol. 15(14), pages 1-25, July.
    3. Zahid Ullah & Arshad & Jawad Ahmad, 2022. "The Development of a Cross-Border Energy Trade Cooperation Model of Interconnected Virtual Power Plants Using Bilateral Contracts," Energies, MDPI, vol. 15(21), pages 1-16, November.
    4. Nyong-Bassey, Bassey Etim & Giaouris, Damian & Patsios, Charalampos & Papadopoulou, Simira & Papadopoulos, Athanasios I. & Walker, Sara & Voutetakis, Spyros & Seferlis, Panos & Gadoue, Shady, 2020. "Reinforcement learning based adaptive power pinch analysis for energy management of stand-alone hybrid energy storage systems considering uncertainty," Energy, Elsevier, vol. 193(C).
    5. Reza Nadimi & Masahito Takahashi & Koji Tokimatsu & Mika Goto, 2024. "The Reliability and Profitability of Virtual Power Plant with Short-Term Power Market Trading and Non-Spinning Reserve Diesel Generator," Energies, MDPI, vol. 17(9), pages 1-19, April.
    6. Mansour-Saatloo, Amin & Pezhmani, Yasin & Mirzaei, Mohammad Amin & Mohammadi-Ivatloo, Behnam & Zare, Kazem & Marzband, Mousa & Anvari-Moghaddam, Amjad, 2021. "Robust decentralized optimization of Multi-Microgrids integrated with Power-to-X technologies," Applied Energy, Elsevier, vol. 304(C).
    7. Khaled Nusair & Lina Alhmoud, 2020. "Application of Equilibrium Optimizer Algorithm for Optimal Power Flow with High Penetration of Renewable Energy," Energies, MDPI, vol. 13(22), pages 1-35, November.
    8. Li, Yang & Wang, Bin & Yang, Zhen & Li, Jiazheng & Chen, Chen, 2022. "Hierarchical stochastic scheduling of multi-community integrated energy systems in uncertain environments via Stackelberg game," Applied Energy, Elsevier, vol. 308(C).
    9. Rezaei, Navid & Pezhmani, Yasin & Khazali, Amirhossein, 2022. "Economic-environmental risk-averse optimal heat and power energy management of a grid-connected multi microgrid system considering demand response and bidding strategy," Energy, Elsevier, vol. 240(C).
    10. Tsao, Yu-Chung & Thanh, Vo-Van & Lu, Jye-Chyi, 2019. "Multiobjective robust fuzzy stochastic approach for sustainable smart grid design," Energy, Elsevier, vol. 176(C), pages 929-939.
    11. Anubhav Kumar Pandey & Vinay Kumar Jadoun & Jayalakshmi N. Sabhahit, 2022. "Real-Time Peak Valley Pricing Based Multi-Objective Optimal Scheduling of a Virtual Power Plant Considering Renewable Resources," Energies, MDPI, vol. 15(16), pages 1-30, August.
    12. Ahmed I. Omar & Ziad M. Ali & Mostafa Al-Gabalawy & Shady H. E. Abdel Aleem & Mujahed Al-Dhaifallah, 2020. "Multi-Objective Environmental Economic Dispatch of an Electricity System Considering Integrated Natural Gas Units and Variable Renewable Energy Sources," Mathematics, MDPI, vol. 8(7), pages 1-37, July.
    13. Zhang, Yusheng & Ma, Chao & Yang, Yang & Pang, Xiulan & Liu, Lu & Lian, Jijian, 2021. "Study on short-term optimal operation of cascade hydro-photovoltaic hybrid systems," Applied Energy, Elsevier, vol. 291(C).
    14. Evan S. Jones & Rosemary E. Alden & Huangjie Gong & Dan M. Ionel, 2023. "Co-Simulation of Electric Power Distribution Systems and Buildings including Ultra-Fast HVAC Models and Optimal DER Control," Sustainability, MDPI, vol. 15(12), pages 1-20, June.
    15. Arup Das & Subhojit Dawn & Sadhan Gope & Taha Selim Ustun, 2022. "A Strategy for System Risk Mitigation Using FACTS Devices in a Wind Incorporated Competitive Power System," Sustainability, MDPI, vol. 14(13), pages 1-21, July.
    16. Haji Bashi, Mazaher & De Tommasi, Luciano & Le Cam, Andreea & Relaño, Lorena Sánchez & Lyons, Padraig & Mundó, Joana & Pandelieva-Dimova, Ivanka & Schapp, Henrik & Loth-Babut, Karolina & Egger, Christ, 2023. "A review and mapping exercise of energy community regulatory challenges in European member states based on a survey of collective energy actors," Renewable and Sustainable Energy Reviews, Elsevier, vol. 172(C).
    17. O., Yugeswar Reddy & J., Jithendranath & Chakraborty, Ajoy Kumar & Guerrero, Josep M., 2022. "Stochastic optimal power flow in islanded DC microgrids with correlated load and solar PV uncertainties," Applied Energy, Elsevier, vol. 307(C).
    18. Xin-gang, Zhao & Ze-qi, Zhang & Yi-min, Xie & Jin, Meng, 2020. "Economic-environmental dispatch of microgrid based on improved quantum particle swarm optimization," Energy, Elsevier, vol. 195(C).
    19. Lin, Xiaojie & Lin, Xueru & Zhong, Wei & Zhou, Yi, 2023. "Predictive operation optimization of multi-energy virtual power plant considering behavior uncertainty of diverse stakeholders," Energy, Elsevier, vol. 280(C).
    20. Al-Bahrani, Loau Tawfak & Horan, Ben & Seyedmahmoudian, Mehdi & Stojcevski, Alex, 2020. "Dynamic economic emission dispatch with load dema nd management for the load demand of electric vehicles during crest shaving and valley filling in smart cities environment," Energy, Elsevier, vol. 195(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:rensus:v:192:y:2024:i:c:s1364032123010766. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.