1. A Simple Strategy for Bidding to Balancing Market of Photovoltaic Power.
- Author
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Taniguchi, Tetsuki, Cui, Jindan, Fang, Xue, Oozeki, Takashi, and Ueda, Yuzuru
- Subjects
- *
BIDDING strategies , *MARKET power , *ELECTRICITY markets , *QUEUING theory , *BIDS - Abstract
Assuming the bidding on balancing market of photovoltaic (PV) system, critical issues are adequate determination of amount of bid and decision making on whether to make a bid or not. This study proposes a rule‐based scheme handling this problem regarding the trade‐off between opportunity loss and penalty event where the actually generated power becomes less than the bid. The amount of bid is adjusted by utilizing trend information of PV output error, and the execution of bidding is decided based on probability of exclusion from the market calculated using queueing theory. © 2024 Institute of Electrical Engineers of Japan and Wiley Periodicals LLC. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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