Cooperative Operation and Profit Distribution of Virtual Power Plant

Abstract

With the widespread development of distributed generation equipment, the stable access of renewable energy and the consequent energy consumption is still a concern. Virtual power plant (VPP) provides a new solution for access and consumption of renewable energy. The distributed wind turbines, photovoltaic generators, fossil power generators and energy storage equipment are taken as the research objective, and the overall economic optimization model of multi generating units in the VPP mode is established. And then Shapley value method (SVM) is used to allocate the total profit of each unit under the cooperative operation of VPP. A security pool mechanism is proposed to improve the stability of VPP, and the ways to evaluate the stability level of VPP and the contribution of VPP members are given. The simulation results show that the information of power grid will be transmitted efficiently under the cooperative operation of VPP, which can improve the utilization efficiency of energy storage equipment and reduce the rate of “abandoning wind and light” to increase the total profit distributed by SVM. The proposed security pool mechanism can effectively strengthen the stability of VPP.

Keywords:

• virtual power plant
• renewable energy
• energy consumption
• profit distribution
• Shapley value method

Additional information

Funding

This work was sponsored by the National Natural Science Foundation of China (No. 72071130, 71871144), the matching project of NSFC (No. 1P16303003, 2020KJFZ034, 2019KJFZ048, 2018KJFZ035) and the Innovation Fund Project for Undergraduate Student of Shanghai (No. XJ2021150, XJ2021160, XJ2021165, XJ2021191, XJ2021206).

Notes on contributors

Junxiang Li

Junxiang Li received his MS and PhD from the Dalian University of Technology, Liaoning Province, China in 2005 and 2008, respectively. From 2010 to 2011, he was a postdoctoral researcher in the School of Economics and Management, Tongji University, Shanghai, China. He was also a Postdoctoral Researcher in the Department of Industrial Engineering and Logistics Management, Hong Kong University of Science and Technology, Hong Kong, China in 2011 and an Academic Visitor at the Business School, Newcastle University, Newcastle, UK in 2018. Now he is a Professor and Supervisor of Postgraduate in the Business School, University of Shanghai for Science and Technology, Shanghai, China. His major is management science and engineering and his research interests include power system optimisation and control and engineering management.

Yichen Zhu

Yichen Zhu received his Master degree in Industrial Engineering from the University of Shanghai for Science and Technology, Shanghai, China. Currently, he is working an Electricity Enterprise of China. His research interests mainly focus on smart grid and power systems optimisation, especially, on real-time pricing algorithm of computer simulation and mathematical modelling.

Mei Yong

Mei Yong is now an undergraduate student in Industrial Engineering from the University of Shanghai for Science and Technology, Shanghai, China. His research interests mainly focus on computer simulation and mathematical modelling.