Stochastic Scheduling Strategy of Wind Turbines and Energy Storages in Joint Energy and Reserve Markets

This paper proposed a stochastic optimization strategy for cooperating wind turbines with an energy storage system in day-ahead and reserve markets. Uncertainties associated with wind speed forecasting, and status of being called by the independent system operator (ISO) in the reserve market are considered in the proposed stochastic model and validated through several scenarios. The objective function is to maximize the profit of the wind generation company by participating in various markets. Numerical results show the effectiveness of the proposed scheme.

Keywords:

Wind Turbins , Energy storage system , Day-ahead market , Reserve market , ARMA