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- W3120054485 abstract "In this paper, a method is presented to maximize the revenue from price difference due to the presence of storage systems in the power system with a high penetration level of wind resources. To account for price changes due to the profitability of price differences, a two-level model is presented that maximizes the earnings from price differences and has been carried out at a low level of market-clearing procedure. The high level uses low-level production prices and adjusts the storage outputs that affect the low-level price. Conversion techniques have been used for single-line programming with respect to system balance constraints. In order to check the performance, the proposed method will be implemented on the IEEE 118 bus test network. Analyzing the results revealed that the proposed method has improved significantly compared with the traditional method and has been able to achieve higher arbitrage income. By applying a two-level model can soften clearly the marginal price by lowering the price at peak times and raising it at non-peak times and the storage’s charging power of the traditional model is much lower than that of the two-level model at low marginal hours. The results show that proposed algorithms can increase revenue from traditional to two-level models from $ 43280 to $ 65700, respectively." @default.
- W3120054485 created "2021-01-18" @default.
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- W3120054485 date "2021-03-01" @default.
- W3120054485 modified "2023-09-23" @default.
- W3120054485 title "Maximizing Energy Storages Revenue Using Two-Level Model and Considering High Influence of Wind Resources and Market Balance Constraints" @default.
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