Consider PV Participation in Electricity and Frequency Regulation Market Trading Mechanisms That Include Energy Storage

With the rapid development of renewable energy, the role of photovoltaic (PV) and energy storage systems in the electricity market is becoming increasingly important. In this paper, based on a joint clearing model of the electric energy and frequency regulation markets for thermal power units and energy storage systems, the effect of PV power generation participation in the electric energy market is analysed, and the cost minimisation problem is explored for both scenarios of adding new energy sources (PV) and not adding new energy sources. The study assumes that PV generation does not participate in the frequency regulation market, but is cleared as part of the electric energy market. The impact of the inclusion of PV on the dispatch costs in the electricity market is analysed by comparing the system operating costs in the two scenarios. The results show that although PV generation does not participate in the frequency regulation dispatch in the electricity market, its inclusion can still effectively reduce the overall system operating costs PV output is able to replace part of the burden of thermal power units, thus achieving cost optimisation.