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Risk-Based Bi-Level Model for Simultaneous Profit Maximization of a Smart Distribution Company and Electric Vehicle Parking Lot Owner

Author

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  • S. Muhammad Bagher Sadati

    (Department of Electrical and Computer Engineering, University of Kurdistan, Sanandaj 66177-15177, Kurdistan, Iran)

  • Jamal Moshtagh

    (Department of Electrical and Computer Engineering, University of Kurdistan, Sanandaj 66177-15177, Kurdistan, Iran)

  • Miadreza Shafie-khah

    (C-MAST, University of Beira Interior, R. Fonte do Lameiro, 6201-001 Covilha, Portugal)

  • João P. S. Catalão

    (C-MAST, University of Beira Interior, R. Fonte do Lameiro, 6201-001 Covilha, Portugal
    INESC-TEC, Faculty of Engineering, University of Porto, Rua Dr. Roberto Frias, 4200-465 Porto, Portugal
    INESC-ID, Instituto Superior Técnico, University of Lisbon, Av. Rovisco Pais, 1049-001 Lisbon, Portugal)

Abstract

In this paper, the effect of renewable energy resources (RERs), demand response (DR) programs and electric vehicles (EVs) is evaluated on the optimal operation of a smart distribution company (SDISCO) in the form of a new bi-level model. According to the existence of private electric vehicle parking lots (PLs) in the network, the aim of both levels is to maximize the profits of SDISCO and the PL owners. Furthermore, due to the uncertainty of RERs and EVs, the conditional value-at-risk (CVaR) method is applied in order to limit the risk of expected profit. The model is transformed into a linear single-level model by the Karush–Kuhn–Tucker (KKT) conditions and tested on the IEEE 33-bus distribution system over a 24-h period. The results show that by using a proper charging/discharging schedule, as well as a time of use program, SDISCO gains more profit. Furthermore, by increasing the risk aversion parameter, this profit is reduced.

Suggested Citation

  • S. Muhammad Bagher Sadati & Jamal Moshtagh & Miadreza Shafie-khah & João P. S. Catalão, 2017. "Risk-Based Bi-Level Model for Simultaneous Profit Maximization of a Smart Distribution Company and Electric Vehicle Parking Lot Owner," Energies, MDPI, vol. 10(11), pages 1-16, October.
    • Handle: RePEc:gam:jeners:v:10:y:2017:i:11:p:1714-:d:116489
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    References listed on IDEAS

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    1. Abdul Latif & Arup Pramanik & Dulal Chandra Das & Israfil Hussain & Sudhanshu Ranjan, 2018. "Plug in hybrid vehicle-wind-diesel autonomous hybrid power system: frequency control using FA and CSA optimized controller," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 9(5), pages 1147-1158, October.
    2. Yajing Gao & Shixiao Guo & Jiafeng Ren & Zheng Zhao & Ali Ehsan & Yanan Zheng, 2018. "An Electric Bus Power Consumption Model and Optimization of Charging Scheduling Concerning Multi-External Factors," Energies, MDPI, vol. 11(8), pages 1-17, August.

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