Joint Bidding Strategy of Onsite Energy Storage Subject in Multi-Market Collaborated with Wind Power Plants

Abstract

Target on realizing carbon neutrality, energy industry is brewing great reform with the character of high penetration of renewable energy. To overcome the intermittence and fluctuation of wind farms or PV stations, onsite battery energy storage systems (BESSs) becomes a promising solution. Whereas, current profit model of onsite BESSs is not clearly enough to attract investment, not even in an association mode with renewable generation companies. Here, taking a collaboration comprised of a wind power plant (WPP) and it onsite BESS as an example, the revenue of several possible markets, including energy, reserve and frequency control (FC) market, that the joint venture can participate in was first assessed. Then, a bidding optimization model was proposed for the BESS subject in joint multi-markets collaborated with WPP as a mixed-integer linear programming model. Numerical result shows the feasibility and effectiveness of the proposed joint bidding method for the further promotion and application of joint venture mode.