OPTIMAL OPERATION OF VIRTUAL POWER PLANTS IN DAY AHEAD MARKET

Abstract

Nowadays, the rapidly increasing demand for electricity has put great
pressure on electricity production as well as power system operation. This is the
driving force for investments in renewable energy sources like solar power and
wind power. However, these renewable energy sources are highly dependent on
weather conditions, which makes it challenging to forecast and precisely adjust
generating capacity. Therefore, this leads to difficulties in coordinating and
operating the power system. Integrating renewable power sources into the
virtual power plant (VPP) can be a promising solution to solve the above
problems. This article will introduce the VPP model as well as optimize the
operation of this model considering the day-ahead market with the electricity
market. GAMS and CPLEX software will be used for the optimization segment.
The optimal results under different scenarios will be shown and discussed. This
research has substantial practical significance because VPP has a broad range of
applications.