Cardiff University | Prifysgol Caerdydd ORCA
Online Research @ Cardiff 
WelshClear Cookie - decide language by browser settings

Two-stage robust transaction optimization model and benefit allocation strategy for new energy power stations with shared energy storage considering green certificate and virtual energy storage mode

Ju, Liwei, Bai, Xiping, Li, Gen, Gan, Wei, Qi, Xin and Ye, Fan 2024. Two-stage robust transaction optimization model and benefit allocation strategy for new energy power stations with shared energy storage considering green certificate and virtual energy storage mode. Applied Energy 362 , 122996. 10.1016/j.apenergy.2024.122996
Item availability restricted.

[thumbnail of PAPER1.pdf] PDF - Accepted Post-Print Version
Restricted to Repository staff only until 20 March 2025 due to copyright restrictions.
Available under License Creative Commons Attribution Non-commercial No Derivatives.

Download (1MB)

Abstract

In the context of the large-scale participation of renewable energy in market trading, this paper designs a cooperation mode of new energy power stations (NEPSs) and shared energy storage (SES) to participate in the power-green certificate market, which divides SES into physical energy storage and virtual energy storage. Secondly, combining the advantages of scenario generation and robust optimization (RO), a two-stage RO model with improved uncertainty interval is proposed to determine the optimal trading strategy. Then, to better align the distribution results of cooperative benefits with the actual contributions of NEPSs and SES, an entropy weight modified Shapley value benefit allocation strategy is constructed. Finally, the new energy base in Qinghai Province, China is chosen for simulation. The results show: (1) Adding energy storage and using two-stage RO are able to effectively improve the ability of NEPSs to resist uncertainty, which increases the revenue of the alliance by 22.8%. (2) The application of SES has better economic benefits than each member equipped with energy storage separately. Compared with the latter, the deviation penalty cost of the former is reduced by 66.4%, and the revenue is increased by 3.4%. (3) The proposed entropy weight modified Shapley value method embodies the important auxiliary role of SES more obviously. Based on this method, the overall satisfaction of the alliance increases by 12.6%. Generally speaking, the optimization model and benefit allocation strategy proposed in this paper can provide guidance for NEPSs and SES participating in power trading, and promote the low-carbon transformation of the power sector.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Engineering
Publisher: Elsevier
ISSN: 0306-2619
Date of First Compliant Deposit: 7 May 2024
Date of Acceptance: 5 March 2024
Last Modified: 07 May 2024 09:43
URI: https://orca.cardiff.ac.uk/id/eprint/167732

Actions (repository staff only)

Edit Item Edit Item

Downloads

Downloads per month over past year

View more statistics