Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage

Zihao Zhao; Zhongkai Yi; Ying Xu; Wenmeng Zhao; Tian Mao; Tao Wang

doi:10.1109/APET63768.2024.10882705

Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage

Zihao Zhao
, Zhongkai Yi^*
, Ying Xu
, Wenmeng Zhao
, Tian Mao
, Tao Wang

^*Corresponding author for this work

School of Electrical Engineering and Automation, Harbin Institute of Technology
China Southern Power Grid

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Scopus citations

Abstract

Due to the uncertainty and volatility of renewable energy, the stable operation of the grid faces new challenges. With its unique technical characteristics, energy storage and virtual power plants (VPP) are rapidly developing and participating in the power market. As the number of energy storage connected to the grid increases, the privacy and security of these market participants must be ensured. In light of this, this study summarizes the trading framework for VPP composed of energy storage in the power market and proposes a model for VPP. Based on this, a centralized clearing model for the power market with VPP composed of energy storage participation is established. Finally, a distributed power market clearing model based on Alternating Direction Method of Multipliers (ADMM) is proposed. Simulation results verify that the proposed strategy can achieve the same effectiveness as centralized power market clearing while safeguarding the information security of market participants.

Original language	English
Title of host publication	2024 3rd Asia Power and Electrical Technology Conference, APET 2024
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	608-613
Number of pages	6
ISBN (Electronic)	9798350367690
DOIs	https://doi.org/10.1109/APET63768.2024.10882705
State	Published - 2024
Externally published	Yes
Event	3rd Asia Power and Electrical Technology Conference, APET 2024 - Fuzhou, China Duration: 15 Nov 2024 → 17 Nov 2024

Publication series

Name	2024 3rd Asia Power and Electrical Technology Conference, APET 2024

Conference

Conference	3rd Asia Power and Electrical Technology Conference, APET 2024
Country/Territory	China
City	Fuzhou
Period	15/11/24 → 17/11/24

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Alternating Direction Method of Multipliers
Distributed power market clearing model
Virtual Power Plant
energy storage

Access to Document

10.1109/APET63768.2024.10882705

Cite this

Zhao, Z., Yi, Z., Xu, Y., Zhao, W., Mao, T., & Wang, T. (2024). Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage. In 2024 3rd Asia Power and Electrical Technology Conference, APET 2024 (pp. 608-613). (2024 3rd Asia Power and Electrical Technology Conference, APET 2024). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/APET63768.2024.10882705

@inproceedings{aa6489b8e9a44268947ad4dd353ab168,

title = "Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage",

abstract = "Due to the uncertainty and volatility of renewable energy, the stable operation of the grid faces new challenges. With its unique technical characteristics, energy storage and virtual power plants (VPP) are rapidly developing and participating in the power market. As the number of energy storage connected to the grid increases, the privacy and security of these market participants must be ensured. In light of this, this study summarizes the trading framework for VPP composed of energy storage in the power market and proposes a model for VPP. Based on this, a centralized clearing model for the power market with VPP composed of energy storage participation is established. Finally, a distributed power market clearing model based on Alternating Direction Method of Multipliers (ADMM) is proposed. Simulation results verify that the proposed strategy can achieve the same effectiveness as centralized power market clearing while safeguarding the information security of market participants.",

keywords = "Alternating Direction Method of Multipliers, Distributed power market clearing model, Virtual Power Plant, energy storage",

author = "Zihao Zhao and Zhongkai Yi and Ying Xu and Wenmeng Zhao and Tian Mao and Tao Wang",

note = "Publisher Copyright: {\textcopyright} 2024 IEEE.; 3rd Asia Power and Electrical Technology Conference, APET 2024 ; Conference date: 15-11-2024 Through 17-11-2024",

year = "2024",

doi = "10.1109/APET63768.2024.10882705",

language = "英语",

series = "2024 3rd Asia Power and Electrical Technology Conference, APET 2024",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

pages = "608--613",

booktitle = "2024 3rd Asia Power and Electrical Technology Conference, APET 2024",

address = "美国",

}

Zhao, Z, Yi, Z , Xu, Y, Zhao, W, Mao, T & Wang, T 2024, Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage. in 2024 3rd Asia Power and Electrical Technology Conference, APET 2024. 2024 3rd Asia Power and Electrical Technology Conference, APET 2024, Institute of Electrical and Electronics Engineers Inc., pp. 608-613, 3rd Asia Power and Electrical Technology Conference, APET 2024, Fuzhou, China, 15/11/24. https://doi.org/10.1109/APET63768.2024.10882705

Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage. / Zhao, Zihao; Yi, Zhongkai ; Xu, Ying et al.
2024 3rd Asia Power and Electrical Technology Conference, APET 2024. Institute of Electrical and Electronics Engineers Inc., 2024. p. 608-613 (2024 3rd Asia Power and Electrical Technology Conference, APET 2024).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage

AU - Zhao, Zihao

AU - Yi, Zhongkai

AU - Xu, Ying

AU - Zhao, Wenmeng

AU - Mao, Tian

AU - Wang, Tao

PY - 2024

Y1 - 2024

N2 - Due to the uncertainty and volatility of renewable energy, the stable operation of the grid faces new challenges. With its unique technical characteristics, energy storage and virtual power plants (VPP) are rapidly developing and participating in the power market. As the number of energy storage connected to the grid increases, the privacy and security of these market participants must be ensured. In light of this, this study summarizes the trading framework for VPP composed of energy storage in the power market and proposes a model for VPP. Based on this, a centralized clearing model for the power market with VPP composed of energy storage participation is established. Finally, a distributed power market clearing model based on Alternating Direction Method of Multipliers (ADMM) is proposed. Simulation results verify that the proposed strategy can achieve the same effectiveness as centralized power market clearing while safeguarding the information security of market participants.

AB - Due to the uncertainty and volatility of renewable energy, the stable operation of the grid faces new challenges. With its unique technical characteristics, energy storage and virtual power plants (VPP) are rapidly developing and participating in the power market. As the number of energy storage connected to the grid increases, the privacy and security of these market participants must be ensured. In light of this, this study summarizes the trading framework for VPP composed of energy storage in the power market and proposes a model for VPP. Based on this, a centralized clearing model for the power market with VPP composed of energy storage participation is established. Finally, a distributed power market clearing model based on Alternating Direction Method of Multipliers (ADMM) is proposed. Simulation results verify that the proposed strategy can achieve the same effectiveness as centralized power market clearing while safeguarding the information security of market participants.

KW - Alternating Direction Method of Multipliers

KW - Distributed power market clearing model

KW - Virtual Power Plant

KW - energy storage

UR - https://www.scopus.com/pages/publications/105000016829

U2 - 10.1109/APET63768.2024.10882705

DO - 10.1109/APET63768.2024.10882705

M3 - 会议稿件

AN - SCOPUS:105000016829

T3 - 2024 3rd Asia Power and Electrical Technology Conference, APET 2024

SP - 608

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BT - 2024 3rd Asia Power and Electrical Technology Conference, APET 2024

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 3rd Asia Power and Electrical Technology Conference, APET 2024

Y2 - 15 November 2024 through 17 November 2024

ER -

Zhao Z, Yi Z , Xu Y, Zhao W, Mao T, Wang T. Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage. In 2024 3rd Asia Power and Electrical Technology Conference, APET 2024. Institute of Electrical and Electronics Engineers Inc. 2024. p. 608-613. (2024 3rd Asia Power and Electrical Technology Conference, APET 2024). doi: 10.1109/APET63768.2024.10882705

Distributed Power Market Clearing Model Based on ADMM for Virtual Power Plant Composed of Energy Storage

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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