Market Analysis and Bidding Strategy of Hybrid Renewable Energy Systems Considering Emissions

Authors

fatma elzahraaFollow
mohamed elnemrFollow
Samir Dawoud, Tanta University, Faculty of Engineering, Electrical Power and Machines Engineering Dept.Follow

Abstract

The competition in the electricity markets makes it difficult to choose a suitable strategy for maximizing profit while reducing harmful emissions. To have an adequate energy price for consumers while minimizing the harmful emissions to the atmosphere and maximizing profits of all participants in the electricity market needs an aggressive bidding strategy. Developing these bidding strategies with the integration of renewable energy (RE) in the electricity market became important. This research studies various bidding strategies for maximizing profits in the deregulated energy market since participants are keen on developing bidding strategies considering emissions. These bidding strategies will consider the integration of RE in the electricity market with day-ahead and real-time market prices. In this paper, the bidding strategies for three conventional generators are analyzed through four various scenarios of load sharing taking into consideration wind and solar energy. The suggested bidding strategies of three power producers are discussed for different levels of load demand in a single electricity market. The profit for three conventional generators is calculated with four various scenarios considering the output emission. As a result, the average profit gained during the day of conventional generators is reduced by 43% when taking into consideration the emission cost effect in the case of applying conventional sources only. However, the reduction is increased to 75% when integrating hybrid solar and wind energy with conventional generators.

Recommended Citation

elzahraa, fatma; elnemr, mohamed; and Dawoud, Samir (2023) "Market Analysis and Bidding Strategy of Hybrid Renewable Energy Systems Considering Emissions," Journal of Engineering Research: Vol. 7: Iss. 6, Article 21.
Available at: https://digitalcommons.aaru.edu.jo/erjeng/vol7/iss6/21