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Risk-Constrained Bidding Strategy for Demand Response, Green Energy Resources, and Plug-In Electric Vehicle in a Flexible Smart Grid

The flexibility of smart grids has become an important issue due to the increasing penetration of uncertain energy resources, such as renewable as well as virtual power plants in the smart grids. Flexibility sources, such as demand response (DR) programs and plug-in electric vehicles (PEVs), can help the smart grid to be more productive. Although the renewable power plants are considered as flexible tools, they are somehow uncertain by themselves. In this article, the uncertainty of power generation of renewable resources has been resolved by incorporating the DR programs and PEVs. A stochastic decision making model for the coordinated operation of renewable resources and some virtual power generation is presented to solve a risk-constrained optimal bidding strategy for a smart grid. The participation of DR and PEV aggregators in the day-ahead market is considered. The uncertainty in day-ahead prices associated with renewable power generation is discussed throughout this article. As a well-known measure, the conditional value at risk is employed in the model to cope with all aforementioned uncertainties. Numerical studies and result analysis show that the expected profit of these resources is increased and the related risk is reduced significantly.
- Queen's University Canada
- Shahid Bahonar University of Kerman Iran (Islamic Republic of)
- Shahid Bahonar University of Kerman Iran (Islamic Republic of)
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).31 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 10% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Top 10% impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Top 10%
