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Optimal Bidding, Scheduling, and Deployment of Battery Systems in California Day-Ahead Energy Market.
- Source :
-
IEEE Transactions on Power Systems . Jan2016, Vol. 31 Issue 1, p442-453. 12p. - Publication Year :
- 2016
-
Abstract
- An optimal supply and demand bidding, scheduling, and deployment design framework is proposed for battery systems. It takes into account various design factors such as the day-ahead and real-time market prices and their statistical dependency, as well as the location, size, efficiency, lifetime, and charge and discharge rates of the batteries. Utilizing second-life/used batteries is also considered. Without loss of generality, our focus is on the California Independent System Operator (ISO) energy market and its two available bidding options, namely self-schedule bidding and economic bidding. While the formulated stochastic optimization problems are originally nonlinear and difficult to solve, we propose a methodology to decompose them into inner and outer subproblems. Accordingly, we find the global optimal solutions within a short amount of computational time. All case studies in this paper are based on real market data. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 08858950
- Volume :
- 31
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- IEEE Transactions on Power Systems
- Publication Type :
- Academic Journal
- Accession number :
- 111983786
- Full Text :
- https://doi.org/10.1109/TPWRS.2015.2394355