Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System
Considering the increasing integration of renewable energies into the power grid, batteries are expected to play a key role in the challenge of compensating the stochastic and intermittent nature of these energy sources. Besides, the deployment of batteries can increase the benefits of a renewable p...
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doaj-174f3268522d4aa69874d29ee6fdfd2a2021-04-23T16:14:36ZengIEEEJournal of Modern Power Systems and Clean Energy2196-54202021-01-019228529410.35833/MPCE.2019.0000219237068Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage SystemJon Martinez-Rico0Ekaitz Zulueta1Ismael Ruiz de Argandona2Unai Fernandez-Gamiz3Mikel Armendia4Automation and Control Unit, Fundación Tekniker, Basque Research and Technology Alliance (BRTA),Eibar,Spain,20600College of Engineering at Vitoria-Gasteiz, University of the Basque Country,Department of Systems Engineering and Control,Vitoria-Gasteiz,Spain,01006Automation and Control Unit, Fundación Tekniker, Basque Research and Technology Alliance (BRTA),Eibar,Spain,20600College of Engineering at Vitoria-Gasteiz, University of the Basque Country,Department of Nuclear and Fluid Mechanics,Vitoria-Gasteiz,Spain,01006Automation and Control Unit, Fundación Tekniker, Basque Research and Technology Alliance (BRTA),Eibar,Spain,20600Considering the increasing integration of renewable energies into the power grid, batteries are expected to play a key role in the challenge of compensating the stochastic and intermittent nature of these energy sources. Besides, the deployment of batteries can increase the benefits of a renewable power plant. One way to increase the profits with batteries studied in this paper is performing energy arbitrage. This strategy is based on storing energy at low electricity price moments and selling it when electricity price is high. In this paper, a hybrid renewable energy system consisting of wind and solar power with batteries is studied, and an optimization process is conducted in order to maximize the benefits regarding the day-ahead production scheduling of the plant. A multi-objective cost function is proposed, which, on the one hand, maximizes the obtained profit, and, on the other hand, reduces the loss of value of the battery. A particle swarm optimization algorithm is developed and fitted in order to solve this non-linear multi-objec-tive function. With the aim of analyzing the importance of considering both the energy efficiency of the battery and its loss of value, two more simplified cost functions are proposed. Results show the importance of including the energy efficiency in the cost function to optimize. Besides, it is proven that the battery lifetime increases substantially by using the multi-objective cost function, whereas the profitability is similar to the one obtained in case the loss of value is not considered. Finally, due to the small difference in price among hours in the analyzed Iberian electricity market, it is observed that low profits can be provided to the plant by using batteries just for arbitrage purposes in the day-ahead market.https://ieeexplore.ieee.org/document/9237068/Battery energy storage systemenergy arbitragehybrid renewable energy systemparticle swarm optimization |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Jon Martinez-Rico Ekaitz Zulueta Ismael Ruiz de Argandona Unai Fernandez-Gamiz Mikel Armendia |
spellingShingle |
Jon Martinez-Rico Ekaitz Zulueta Ismael Ruiz de Argandona Unai Fernandez-Gamiz Mikel Armendia Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System Journal of Modern Power Systems and Clean Energy Battery energy storage system energy arbitrage hybrid renewable energy system particle swarm optimization |
author_facet |
Jon Martinez-Rico Ekaitz Zulueta Ismael Ruiz de Argandona Unai Fernandez-Gamiz Mikel Armendia |
author_sort |
Jon Martinez-Rico |
title |
Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System |
title_short |
Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System |
title_full |
Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System |
title_fullStr |
Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System |
title_full_unstemmed |
Multi-objective Optimization of Production Scheduling Using Particle Swarm Optimization Algorithm for Hybrid Renewable Power Plants with Battery Energy Storage System |
title_sort |
multi-objective optimization of production scheduling using particle swarm optimization algorithm for hybrid renewable power plants with battery energy storage system |
publisher |
IEEE |
series |
Journal of Modern Power Systems and Clean Energy |
issn |
2196-5420 |
publishDate |
2021-01-01 |
description |
Considering the increasing integration of renewable energies into the power grid, batteries are expected to play a key role in the challenge of compensating the stochastic and intermittent nature of these energy sources. Besides, the deployment of batteries can increase the benefits of a renewable power plant. One way to increase the profits with batteries studied in this paper is performing energy arbitrage. This strategy is based on storing energy at low electricity price moments and selling it when electricity price is high. In this paper, a hybrid renewable energy system consisting of wind and solar power with batteries is studied, and an optimization process is conducted in order to maximize the benefits regarding the day-ahead production scheduling of the plant. A multi-objective cost function is proposed, which, on the one hand, maximizes the obtained profit, and, on the other hand, reduces the loss of value of the battery. A particle swarm optimization algorithm is developed and fitted in order to solve this non-linear multi-objec-tive function. With the aim of analyzing the importance of considering both the energy efficiency of the battery and its loss of value, two more simplified cost functions are proposed. Results show the importance of including the energy efficiency in the cost function to optimize. Besides, it is proven that the battery lifetime increases substantially by using the multi-objective cost function, whereas the profitability is similar to the one obtained in case the loss of value is not considered. Finally, due to the small difference in price among hours in the analyzed Iberian electricity market, it is observed that low profits can be provided to the plant by using batteries just for arbitrage purposes in the day-ahead market. |
topic |
Battery energy storage system energy arbitrage hybrid renewable energy system particle swarm optimization |
url |
https://ieeexplore.ieee.org/document/9237068/ |
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