2021/07/30 by Yue Chen, Chen, Yue, Wei Wei +9
Engineering · #Electric Power System Optimization #Electric Vehicles and Infrastructure #FOS: Electrical engineering #FOS: Mathematics #Optimization and Control (math.OC) #Smart Grid Energy Management #Systems and Control (eess.SY) #electronic engineering #information engineering
paper · pdf · doi:10.48550/arxiv.2107.14403
openalex publication_date 2021/07/30 · openalex created_date 2021/10/11 · openalex updated_date 2026/07/28
Energy storage is expected to play an increasingly important role in mitigating variations that come along with the growing penetration of renewable energy. In this paper, we study the optimal bidding of an energy storage unit in a semi-centralized market. The energy storage unit offers its available storage capacity and maximum charging/discharging rate to the operator; then the operator clears the real-time market by minimizing the total cost. The energy storage unit is paid/charged at locational marginal price (LMP). The problem casts down to a bilevel optimization problem with a mixed-integer lower-level. An improved surrogate-based method with the combined spatial-temporal entropy term is developed to solve this problem. Numerical examples demonstrate the scalability, efficiency, and accuracy of the proposed method.