Profit Maximization of Wind-HESS based System by Minimizing the Negative Imbalance Cost
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Date
2019
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Department of Electrical Engineering, NITS
Abstract
Recent decades the rapid development of wind power integration because of wind power generation reduces carbon emissions and extinction. Among all the renewable energy extraction technologies wind is most suitable and cheaper one. The main drawbacks of wind power integration are wind power predictability, optimal offering strategies for wind farms in a day ahead electricity markets. Due to this wind farms injects energy imbalance into the grid. We want to reduce the wind power intermittency nature by using hybrid energy storage system. Main advantages of hybrid energy storage system become more reliable and efficient. Here we proposed logic for coordination of hybrid energy storage system and wind farm in efficient manners to get maximum profit with minimum wind farms power imbalance. This thesis compared the profit before and after the integration of hybrid energy storage system with the wind-thermal integrated power system. Our results highlights that when HESS is supplying power to the wind-thermal based power system deviations are less, spot market compensation cost is less, LMP is also reduces and imbalance cost is also reduces.