Affiliation:
1. School of Computer and Communication Engineering, University of Science and Technology Beijing, Beijing 100083, China
2. Shunde Innovation School, University of Science and Technology Beijing, Foshan 528399, China
3. Department of Civil Engineering, University of Science and Technology Beijing, Beijing 100083, China
Abstract
The intermittent nature of wind power generation induces great challenges for power bidding in the electricity market. The deployment of battery energy storage can improve flexibility for power bidding. This paper investigates an optimal power bidding strategy for a wind–storage hybrid power plant in the day-ahead electricity market. To handle the challenges of the uncertainties of wind power generation and electricity prices, the optimal bidding problem is formulated as a risk-aware scenario-based stochastic programming, in which a number of scenarios are generated using a copula-based approach to represent the uncertainties. These scenarios consider the temporal correlation of wind power generation and electricity prices between consecutive time intervals. In the stochastic programming, a more practical but nonlinear battery operation cost function is considered, which leads to a nonlinear constrained optimization problem. To solve the nonlinear constrained optimization problem, an ensemble differential evolution (EDE) algorithm is proposed, which makes use of the merits of an ensemble of mutant operators to generate mutant vectors. Moreover, a problem-specific constraint-handling technique is developed. To validate the effectiveness of the proposed EDE algorithm, it is compared with state-of-the-art DE-based algorithms for constrained optimization problems, including a constrained composite DE (C2oDE) algorithm and a novel DE (NDE) algorithm. The experimental results demonstrate that the EDE algorithm is much more reliable and much faster in finding a better bidding strategy against benchmarking algorithms. More precisely, the average values of the success rate are 0.893, 0.667, and 0.96 for C2oDE, NDE, and EDE, respectively. Compared to C2oDE and NDE, the average value of the mean number of function evaluations to succeed with EDE is reduced by 76% and 59%, respectively.
Funder
National Natural Science Foundation of China
Guangdong Basic and Applied Basic Research Foundation
Scientific and Technological Innovation Foundation of Foshan
Beijing Natural Science Foundation
Excellent Youth Team Project for the Central Universities
Fundamental Research Funds for the Central Universities
Subject
Energy (miscellaneous),Energy Engineering and Power Technology,Renewable Energy, Sustainability and the Environment,Electrical and Electronic Engineering,Control and Optimization,Engineering (miscellaneous),Building and Construction
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