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Effects of Hydrogen Storage System and Renewable Energy Sources for Optimal Bidding Strategy in Electricity Market

Can Li*, Xiaode Zuo

School of Management, Jinan University, Guangzhou, 510632, China

* Corresponding Author: Can Li. Email: email

(This article belongs to the Special Issue: Application of Artificial Intelligence for Energy and City Environmental Sustainability)

Energy Engineering 2022, 119(5), 1879-1903. https://doi.org/10.32604/ee.2022.020472

Abstract

This work suggested a novel model for obtaining optimum bidding/offering strategy to improve the benefits in case of big users. Aiming this regard, several electrical energy resources including: micro turbines, green power sources (wind turbine and photovoltaic system), power storage unit such as Hydrogen storage system with fuel cell, as well as mutual treaties are taken into account in offered model. Considering various models for uncertain parameters based on their natures such as power demand, electricity market tariffs, solar irradiation, temperature and wind speed is one of the contributions of the proposed model. Uncertainty of power demand is modeled by robust optimal method whereas remain uncertain parameters are incorporated in model by stochastic method. Considering of wind speed cased is made by Weibull distribution. While, normal distribution is utilized for production of cases for electricity market tariffs, solar irradiation and temperature. In order to reduce the bidding error loss, the storage devices are corporate with green energy in power unbalanced conditions. Combined-integer linear programming method is applied for handling of pricing method profiles that have strength against considered uncertainties on power demand of big user. The obtained results confirm, the entire electrical energy supplement expenditure of big user in absence of demand uncertainty is $39.63 whereas it is augmented up to $49.47 to achieve robustness vs. demand uncertainty. Also, using of hydrogen storage system by considering the reliability index is reduced the bidding price of the system.

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Cite This Article

APA Style
Li, C., Zuo, X. (2022). Effects of hydrogen storage system and renewable energy sources for optimal bidding strategy in electricity market. Energy Engineering, 119(5), 1879-1903. https://doi.org/10.32604/ee.2022.020472
Vancouver Style
Li C, Zuo X. Effects of hydrogen storage system and renewable energy sources for optimal bidding strategy in electricity market. Energ Eng. 2022;119(5):1879-1903 https://doi.org/10.32604/ee.2022.020472
IEEE Style
C. Li and X. Zuo, "Effects of Hydrogen Storage System and Renewable Energy Sources for Optimal Bidding Strategy in Electricity Market," Energ. Eng., vol. 119, no. 5, pp. 1879-1903. 2022. https://doi.org/10.32604/ee.2022.020472



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