Co-optimized trading of hybrid wind power plant with retired EV batteries in energy and reserve markets under uncertainties

Sen Zhan, Peng Hou*, Peter Enevoldsen, Guangya Yang, Jiangsheng Zhu, Joshua Eichman, Mark Z. Jacobson

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

To be competitive in the electricity markets, various technologies have been reported to increase profits of wind farm owners. Combining battery storage system, wind farms can be operated as conventional power plants which promotes the integration of wind power into the power grid. However, high expenses on batteries keep investors away. Retired EV batteries, fortunately, still have enough capacity to be reused and could be obtained at a low price. In this work, a two-stage optimization of a wind energy retired EV battery-storage system is proposed. The economic performance of the proposed system is examined concerning its participation in the frequency containment normal operation reserve (FCR-N) market and the spot market simultaneously. To account uncertainties in the wind farm output, various electricity market prices, and up/down regulation status, a scenario-based stochastic programming method is used. The sizing of the equipment is optimized on top of daily operations of the hybrid system which formulates a mixed-integer linear programming (MILP) problem. Scenarios are generated with the Monte Carlo simulation (MCS) and Roulette Wheel Mechanism (RWM), which are further reduced with the simultaneous backward method (SBM) to increase computational efficiency. A 21 MW wind farm is selected as a case study. The optimization results show that by integrating with a retired EV battery-storage system (RESS) and a bi-directional inverter, the wind farm can increase its profits significantly when forwarding bids in both of the aforementioned electricity markets.

Original languageEnglish
Article number105631
JournalInternational Journal of Electrical Power and Energy Systems
Volume117
Number of pages9
ISSN0142-0615
DOIs
Publication statusPublished - May 2020

Keywords

  • FCR-N market
  • MILP
  • Retired EV battery-storage system (RESS)
  • Spot market

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