Utilization of renewable resources for scheduling the hourly production in day-ahead markets and its effect on the nodal price

This article discusses utilizing renewable energy resources and their impact on nodal price considering the varying nature of environmental conditions. It should be noted that nodal prices are of great importance concerning the consuming pattern of consumers; thus, studying the integration of these resources into power system results in the decrease of environmental effects of thermal plants; and on the other hand, low marginal costs of these units are of great importance in daily planning for supplying the demands, in order to lower total final costs. This study has been done on IEEE 6-bus system using MILP method and P&O algorithm for maximum power extraction.