Methods of participating power spot market bidding and settlement for renewable energy systems

The bidding strategies in electricity markets are non-conventional sources of flexibility. The market bids are usually in the form of a price and quantity quotation, and they state how much the seller or buyers are willing to buy or sell and for what price. These new developments in renewable energy systems are thoroughly discussed in this paper. This paper defines renewable energy systems and shows how they are applied in a smart grid. This fact has led the resources to a distributed load. The growing load resources have raised bidding and settlement in the power spot market. This paper presents a Distributed Adjustable Load Resources and settlement (DALRS) model to enhance the power of the payment spot market bidding systems. Flexible resources in smart grids and this report provide a comprehensive evaluation and analysis of the current market trading arrangements for these renewable energy systems.