A novel market clearing strategy considering the capacity-cost flexibility of distributed resources

The integration of renewable energy on a large scale has heightened the demand for flexibility within power systems. This paper introduces the innovative concept of "capacity-cost flexibility" and proposes a novel market clearing strategy that incorporates the capacity-cost flexibility of distributed resources. Initially, the flexibility in terms of capacity and cost for different types of distributed resources is assessed categorially based on their physical characteristics. Subsequently, a Flexibility-driven market clearing model is formulated with flexibility capacity as the decision variable, aiming to minimize the total cost of flexibility for distributed resources, thereby optimizing resource allocation and enhancing the economic an d reliability aspects of the power system. Finally, the effectiveness of the model is validated through case simulations using the improved IEEE 30-bus system.