Research on virtual power plant participation in multi-market participant electricity and carbon trading mechanisms

In recent years, renewable energy sources, primarily wind and solar power, have been gradually developing, necessitating the inclusion of renewable energy in the scope of electricity market participants. Virtual Power Plants achieve reasonable regulation of internal resources by aggregating various resources such as wind and solar resources, energy storage, electric vehicle charging and swapping stations, and loads, enabling them to participate in external markets for profit generation. Based on this, the article explores feasible implementation paths for virtual power plants to participate in market-oriented electricity trading and proposes research strategies for the electricity and carbon trading mechanism involving multiple market entities. Firstly, the article establishes a mathematical model for virtual power plant participation in the carbon market. Secondly, it employs a branch-and-bound algorithm to optimize a mixed-integer linear programming model with the objective of maximizing the overall operational revenue of the virtual power plant.Finally, the scheduling scheme is tested in a regional model for simulation. The simulation results indicate that the proposed model can achieve economic, stable, and low-carbon operation for the virtual power plant.

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Publication Details

Journal
IET conference proceedings.
Published
2025-03-01
DOI
https://doi.org/10.1049/icp.2025.0667
Primary Topic
Smart Grid and Power Systems
Type
article
Field-Weighted Citation Impact
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article

Research on virtual power plant participation in multi-market participant electricity and carbon trading mechanisms

Jiaman Li, Zhijian Fang, Qingyi Wang, Zeya Wang
IET conference proceedings.
Smart Grid and Power Systems
article

Research on virtual power plant participation in multi-market participant electricity and carbon trading mechanisms

Jiaman Li, Zhijian Fang, Qingyi Wang, Zeya Wang
article en

Abstract

In recent years, renewable energy sources, primarily wind and solar power, have been gradually developing, necessitating the inclusion of renewable energy in the scope of electricity market participants. Virtual Power Plants achieve reasonable regulation of internal resources by aggregating various resources such as wind and solar resources, energy storage, electric vehicle charging and swapping stations, and loads, enabling them to participate in external markets for profit generation. Based on this, the article explores feasible implementation paths for virtual power plants to participate in market-oriented electricity trading and proposes research strategies for the electricity and carbon trading mechanism involving multiple market entities. Firstly, the article establishes a mathematical model for virtual power plant participation in the carbon market. Secondly, it employs a branch-and-bound algorithm to optimize a mixed-integer linear programming model with the objective of maximizing the overall operational revenue of the virtual power plant.Finally, the scheduling scheme is tested in a regional model for simulation. The simulation results indicate that the proposed model can achieve economic, stable, and low-carbon operation for the virtual power plant.

IET conference proceedings.Vol. 2024(33)
China University of Geosciences (CN)
Openalex Percentile: Top 96%
Smart Grid and Power Systems
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Research on virtual power plant participation in multi-market participant electricity and carbon trading mechanisms — Jiaman Li, Zhijian Fang, et al. · IET conference proceedings. (2025) | TGRS Research Map | TGRS