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This textbook provides a detailed analysis of operation and planning problems faced by virtual power plants participating in different electricity markets. The chapters address in-depth, topics such as: optimization, market power, expansion, and modelling uncertainty in operation and planning problems of virtual power plants. The book provides an up-to-date description of decision-making tools to address challenging questions faced by virtual power plants such as:How can virtual power plants optimize their participation in electricity markets?
How can a virtual power plant exercise market power?
How can virtual power plants be optimally expanded?
How can uncertainty be efficiently modelled in the operation and planning problems of virtual power plants?The book is written in a tutorial style and modular format, and includes many illustrative examples to facilitate comprehension. It is intended for a diverse audience including advanced undergraduate and graduate students in the fields of electric energy systems, operations research, and economics. Practitioners in the energy sector will also benefit from the concepts and techniques presented in this book. In particular, this book:Provides students with the GAMS codes to solve the examples in the book;
Provides a basis for the formulation of decision-making problems under uncertainty;
Contains a blend of theoretical concepts and practical applications that are developed as working algorithms.
November 2020 Update - VPP extension confirmed
The combination of several types of flexible production and consumption units, controlled by a central intelligent system, is the core idea behind a Virtual Power Plant. This way, a VPP can deliver the same service and trade on the same markets as large central power plants or industrial consumers.
Dyson, a principal with Rocky Mountain Institute's electricity practice, thinks the industry has made a mistake by settling on the term "virtual power plant" to describe how grid-scale renewables...
But a distributed energy system, or a virtual power plant, would have 200,000 subsystems.
But how does a VPP actually make money for a battery owner ...
The project Flexible Energy Production, Demand and Storage-based Virtual Power Plants for Electricity Markets and Resilient DSO Operation (FEVER) receives funding from the European Union's Horizon 2020 research and innovation programme under Grant Agreement no 864537. All information on this website reflects only the authors' view.