Distributed market clearing with wind generation and large-scale dispatchable loads

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Risk-cognizant power dispatch techniques are urgently needed towards achieving the goal of high-penetration renewables in the future power smart grids. In this paper, day-ahead stochastic market clearing based on the DC optimal power flow (OPF) model is pursued accounting for the stochastic availability of renewables. The objective is to minimize the grid-wide total cost which consists of the conventional generation cost, the end-users' utility, as well as the energy transaction cost utilizing the conditional value-at-risk (CVaR). The proposed CVaR-based transaction cost serves as a smart regularizer to mitigate the potentially high risk of inadequate wind power. The sample average approximation method is introduced to bypass the prohibitive high-dimensional integral in the resulting optimization problem. Furthermore, to address the challenges of respecting end-users' privacy and the computational complexity incurred by large-scale dispatchable loads, a fast ADMM-based solver is developed with guaranteed convergence. Numerical results are reported to corroborate the merits of the novel framework and the proposed approaches.

Original languageEnglish (US)
Title of host publicationProceedings of the IEEE Conference on Decision and Control
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages941-946
Number of pages6
Volume2015-February
EditionFebruary
DOIs
StatePublished - Feb 11 2015
Event2014 53rd IEEE Annual Conference on Decision and Control, CDC 2014 - Los Angeles, United States
Duration: Dec 15 2014Dec 17 2014

Other

Other2014 53rd IEEE Annual Conference on Decision and Control, CDC 2014
Country/TerritoryUnited States
CityLos Angeles
Period12/15/1412/17/14

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