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Electric vehicle aggregator as demand dispatch resources: Exploring the impact of real-time market performance on day-ahead market

Author

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  • Hu, Zhuo
  • Wang, Tao
  • Cao, Yuwei
  • Yang, Qing

Abstract

As the integration of variable renewable energy sources (VREs) into power grids escalates, effectively managing the unpredictability of VRE generation becomes crucial. Electric vehicles, utilized as distributed energy storage, emerge as a potential solution. However, it remains unclear whether electric vehicle aggregators (EVAs), acting as demand dispatch resources, have a favorable impact on the overall electricity market, especially when considering their performance in real-time markets during day-ahead energy allocations. Therefore, this paper proposes a decentralized clearing mechanism (DCM) relying on an multi-attribute evaluation model of EVAs for optimal bidding strategies in the day-ahead market. The EVAs multi-attribute evaluation model employs an integration of the Entropy-Analytic Hierarchy Process, allowing for the simultaneous consideration of real-time performance and day-ahead bidding prices of EVAs. Consequently, the decentralized clearing mechanism supports strategic electricity planning in the day-ahead market by incorporating the actual market performance of EVAs. Furthermore, a real-time market bidding model is developed to balance dynamic mismatches between VRE generation and demand, aiming to maximize profits through optimized real-time commitment and real-time dispatch. System simulations on the IEEE39 bus system demonstrate that the DCM enhances overall profits by 18.69% compared to the centralized clearing mechanism.

Suggested Citation

  • Hu, Zhuo & Wang, Tao & Cao, Yuwei & Yang, Qing, 2024. "Electric vehicle aggregator as demand dispatch resources: Exploring the impact of real-time market performance on day-ahead market," Energy, Elsevier, vol. 308(C).
    • Handle: RePEc:eee:energy:v:308:y:2024:i:c:s0360544224025982
    DOI: 10.1016/j.energy.2024.132824
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