A Business Framework for Distributed Power Demand and Storage Response with the Maximization of Renewable Energy Accommodation

With the increasing concern for environment protection and fossil energy depletion, the development of renewable energy generations is supported all over the world. However, the rapid increasing of renewable resources also brings the accommodation issue of massive power supply from renewable generation units. Specifically, the marginal operation cost for absorbing renewable energy can increase with high renewable generation and lead to the curtailment of partial renewable energy. Therefore, the potential of co-scheduling for distributed power demand and energy storage resources is explored with a framework designed to facilitate the consumption of renewable generation power. A case study tested on a single-node power system has verified the effectiveness of the proposed optimization architecture to maximize the absorption of renewable energy with the participation of power demand and energy storage.