Title :
Energy Imbalance Management Using a Robust Pricing Scheme
Author :
Wei-Yu Chiu ; Hongjian Sun ; Poor, H. Vincent
Author_Institution :
Dept. of Electr. Eng., Princeton Univ., Princeton, NJ, USA
Abstract :
This paper focuses on the problem of energy imbalance management in a microgrid. The problem is investigated from the power market perspective. Unlike the traditional power grid, a microgrid can obtain extra energy from a renewable energy source (RES) such as a solar panel or a wind turbine. However, the stochastic input from the RES brings difficulty in balancing the energy supply and demand. In this study, a novel pricing scheme is proposed that provides robustness against such intermittent power input. The proposed scheme considers possible uncertainty in the marginal benefit and the marginal cost of the power market. It uses all available information on the power supply, power demand, and imbalanced energy. The parameters of the scheme are evaluated using an performance index. It is shown that the parameters can be obtained by solving a linear matrix inequality problem, which is efficiently solvable due to its convexity. Simulation examples are given to show the favorable performance of the proposed scheme in comparison with existing area control error pricing schemes.linear matrix inequality problem,area control error pricing schemes.
Keywords :
distributed power generation; energy management systems; power markets; pricing; renewable energy sources; H∞ performance index; RES; energy imbalance management; imbalanced energy; marginal cost; microgrid; power demand; power grid; power market; power supply; renewable energy source; robust pricing scheme; solar panel; stochastic input; wind turbine; Power demand; Power markets; Power system dynamics; Pricing; Robustness; $H_{infty}$ performance; Energy management; linear matrix inequality (LMI); power control; power generation economics; power market; power system dynamics; power system management; smart grids;
Journal_Title :
Smart Grid, IEEE Transactions on
DOI :
10.1109/TSG.2012.2216554