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Stochastic Optimization of Microgrid Operation With Renewable Generation and Energy Storages

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posted on 15.03.2022, 04:42 authored by Per AaslidPer Aaslid, Magnus Korpås, Michael M Belsnes, Olav Bjarte FossoOlav Bjarte Fosso
The operation of energy storage systems (ESSs) in power systems where variable renewable energy sources (VRESs) and ESSs must contribute to securing the supply, can be considered as an arbitrage against scarcity. The value of using stored energy instantly must be balanced against its potential future value and future risk of scarcity. This paper proposes a multi-stage stochastic programming model for the operation of microgrids with VRESs, ESSs and thermal generators that is divided into a short- and a long-term model. The short-term model utilizes information from forecasts updated every six hours, while the long-term model considers the value of stored energy beyond the forecast horizon. The model is solved using stochastic dual dynamic programming and Markov chains, and the results show that the significance of accounting for short- and long-term uncertainty increases for systems with a high degree of variable renewable generation and ESSs and limited dispatchable generation capacity.

Funding

Norwegian Research Council grant number 272398

History

Email Address of Submitting Author

per.aaslid@sintef.no

ORCID of Submitting Author

0000-0003-2253-4479

Submitting Author's Institution

SINTEF Energy Research

Submitting Author's Country

Norway