Multi-Interval Energy-Reserve Co-Optimization with SoC-Dependent Bids from Battery Storage
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arXiv
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| Autores principales: | , , |
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| Formato: | Preprint |
| Publicado: |
2024
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| _version_ | 1866912000499515392 |
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| author | Chen, Cong Li, Siying Tong, Lang |
| author_facet | Chen, Cong Li, Siying Tong, Lang |
| contents | We consider the problem of co-optimized energy-reserve market clearing with state-of-charge (SoC) dependent bids from battery storage participants. While SoC-dependent bids capture storage's degradation and opportunity costs, such bids result in a non-convex optimization in the market clearing process. More challenging is the regulation reserve capacity clearing, where the SoC-dependent cost is uncertain as it depends on the unknown regulation trajectories ex-post of the market clearing. Addressing the nonconvexity and uncertainty in a multi-interval co-optimized real-time energy-reserve market, we introduce a simple restriction on the SoC-dependent bids along with a robust optimization formulation, transforming the non-convex market clearing under uncertainty into a standard convex piece-wise linear program and making it possible for large-scale storage integration. Under reasonable assumptions, we show that SoC-dependent bids yield higher profit for storage participants than that from SoC-independent bids. Numerical simulations demonstrate a 28%-150% profit increase of the proposed SoC-dependent bids compared with the SoC-independent counterpart. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2401_15525 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Multi-Interval Energy-Reserve Co-Optimization with SoC-Dependent Bids from Battery Storage Chen, Cong Li, Siying Tong, Lang Systems and Control Computer Science and Game Theory We consider the problem of co-optimized energy-reserve market clearing with state-of-charge (SoC) dependent bids from battery storage participants. While SoC-dependent bids capture storage's degradation and opportunity costs, such bids result in a non-convex optimization in the market clearing process. More challenging is the regulation reserve capacity clearing, where the SoC-dependent cost is uncertain as it depends on the unknown regulation trajectories ex-post of the market clearing. Addressing the nonconvexity and uncertainty in a multi-interval co-optimized real-time energy-reserve market, we introduce a simple restriction on the SoC-dependent bids along with a robust optimization formulation, transforming the non-convex market clearing under uncertainty into a standard convex piece-wise linear program and making it possible for large-scale storage integration. Under reasonable assumptions, we show that SoC-dependent bids yield higher profit for storage participants than that from SoC-independent bids. Numerical simulations demonstrate a 28%-150% profit increase of the proposed SoC-dependent bids compared with the SoC-independent counterpart. |
| title | Multi-Interval Energy-Reserve Co-Optimization with SoC-Dependent Bids from Battery Storage |
| topic | Systems and Control Computer Science and Game Theory |
| url | https://arxiv.org/abs/2401.15525 |