Aggregation and Bidding Strategy of Virtual Power Plant

Abstract

The research endeavors to investigate the incorporation of Virtual Power Plants (VPPs) into contemporary energy systems, with a particular emphasis on aggregation and optimal scheduling. The primary focus lies in examining the pivotal role of VPPs in assimilating renewable energy sources and fortifying the stability of the grid. Commencing with a comprehensive overview of VPPs, the study proceeds to delve into their immense significance in facilitating the transition towards sustainable energy futures. In addition, the detailed examination and analysis of VPPs’ technical complexities, including renewable energy production, storage solutions, and demand-side management, are thoroughly explored and scrutinized. The investigation also meticulously scrutinizes various control strategies and algorithms that have been devised to optimize VPP operation in response to the ever-fluctuating dynamics of the market as well as demand variations. In order to effectively demonstrate the efficacy of VPPs in terms of energy storage management and dynamic power adjustment based on real-time market conditions, a robust model is employed. In addition, the research’s objective is to provide insight into the incorporation of VPPs into hybrid grid systems. This will emphasize their natural ability to efficiently manage the supply and demand of energy, all while optimizing the use of renewable energy sources. The recommendations stemming from this comprehensive analysis unambiguously underscore the pressing need for advancements in control algorithms and grid technologies, which would undeniably augment the scalability and feasibility of VPP integration into modern energy systems.