System Profit Assessment of a Solar-Integrated Deregulated Power System

The maximization of earnings from an electricity market is one of the most critical parts. The electricity generated by the stations is fixed. During the low peak hours, the energy is available in abundance. These excess units left from renewable energy sources like solar, windand the flow of water can be stored in storage units. One of the solutions used in recent times is the usage of Battery Energy Storage Systems (BESS). The leftover energy generated in the low peak hours can be saved and reused at the peak demand time. The energy stored in the units can be further used during high peak hours and can be utilized to gain further profits which can be the motto of an Electricity Market. With this electricity, greater income can be generated. Nowadays the usage of renewable sources for power generation to preserve non-renewable resources from extinction has emerged as a topic. This paper discusses a way by putting the renewable deliver at one of the load centers and locating the greatest component where the storing of electricity can take advantage of both renewable and non-renewable resources. The work mainly focuses onthe presence of regulated and deregulated systems. The main objective of this work is to find the considerable changes in system profit in a power system with regulated and deregulated conditions with the placement of Solar PV. The work is simulated using MATPOWER and the programming language is SQP (Sequential Quadratic Programming) which follows the Newton-Raphson method.