Rolling‐horizon optimization strategy for wind‐storage system in electricity market

Abstract

Abstract China's electricity spot market is undergoing rapid development. With the increasing integration of new energy sources, it has become imperative for new energy power plants to participate in the market actively. Simultaneously, new energy power facilities are equipped with energy storage to cope with the randomness of power generation. In order to address the optimization and control challenges of wind‐storage combined systems in the market environment, a charging and discharging strategy is proposed. Considering system parameters as variables, an online rolling‐horizon optimization model for wind‐storage systems is constructed to maximize revenue. Case studies demonstrate that this strategy effectively improves the overall revenue of wind power plants. After optimization, the return on investment (ROI) of the system increases by 2.29%. The selection of system parameters can significantly impact the outcomes. The optimal values of the capacity configuration and step size are 25 MWh and 45 min.

Keywords

• energy storage
• optimisation
• power markets
• power system economics
• wind power