Journal article

Integrated techno-economic modeling, flexibility analysis, and business case assessment of an urban virtual power plant with multi-market co-optimization

Han Wang, Shariq Riaz, Pierluigi Mancarella

Applied Energy | Elsevier BV | Published : 2020

Abstract

The concept of Virtual Power Plant (VPP) is recognized as an effective option to aggregate and operate Distributed Energy Resources (DER) to participate in wholesale energy markets and provide flexibility and associated grid services that are needed in a renewable-rich energy system. Also, as most of the DER are available in urban areas, there are increasing interests in assessing the potential to develop urban VPP, for example in university campuses. However, exploiting the flexibility of VPP and developing robust business cases require advanced considerations on their technical and commercial constraints and trade-offs in deploying the VPP’s flexibility when simultaneously participating in..

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Grants

Awarded by UK EPSRC


Funding Acknowledgements

PM and SR would like to thank veski for the financial support provided to carry out part of the research relevant to this work. PM would also like to acknowledge the partial support provided by the UK EPSRC through the "MY-STORE" (EP/N001974/1) project.