Stochastic Optimization of Industrial Hubs with Thermal Energy Storage and Reserves Provision

This paper proposes a stochastic optimization model for industrial hubs to enable their participation in energy markets. The model aims to leverage the resources of multi-energy systems to minimize energy costs in the day-ahead market. It accounts for uncertainties in photovoltaic generation, electrical and heat demand, and outdoor temperatures. A comparison is made with a deterministic approach, along with an analysis of the impact of thermal storage and reserve market participation on costs and bidding strategies. The results show that the stochastic approach is more conservative than the deterministic, while the integration of thermal storage and reserve services help decrease costs.