Role of Battery-Integrated Residential Systems for Regulation Reserve Markets

2024pp. 243–258

Ali Shayegan‐Rad, Mohammad Reza Fallahzadeh, Ali Zangeneh

Abstract

This chapter develops a model for a battery-integrated residential systems (BIRS) to participate in joint energy and regulation reserve (RR) markets. Battery-integrated residential systems are aggregated by a virtual power plant (VPP) to facilitate participating in energy and RR markets. It is considered that a VPP obtains carefully the RR required by its gas turbine (GT) and BIRS based on the delivery request probability of the market operator. In other words, a model for providing RR is introduced in which the dispatchable generation units are financially compensated with their readiness declarations and will be charged/paid for their real-time down/up regulations. This means that the VPP uses its GT and BIRS to provide the necessary RR to the market operator, based on the likelihood that the market operator will request delivery of RR. The VPP can use its GT to generate electricity quickly in response to a request for RR, while the BIRS can store excess energy and release it when needed to provide RR. This allows the VPP to participate in joint energy and RR markets, providing a flexible and reliable source of RR to the market operator. The model is developed considering lithium-ion batteries, and the approach can be applied to other conventional electrochemical batteries. Several case studies are presented to investigate the impacts of BIRS participation on VPP expected profit.

Abstract

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