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- Title
Risk-Based Bi-Level Model for Simultaneous Profit Maximization of a Smart Distribution Company and Electric Vehicle Parking Lot Owner.
- Authors
Bagher Sadati, S. Muhammad; Moshtagh, Jamal; Shafie-khah, Miadreza; Catalão, João P. S.
- Abstract
In this paper, the effect of renewable energy resources (RERs), demand response (DR) programs and electric vehicles (EVs) is evaluated on the optimal operation of a smart distribution company (SDISCO) in the form of a new bi-level model. According to the existence of private electric vehicle parking lots (PLs) in the network, the aim of both levels is to maximize the profits of SDISCO and the PL owners. Furthermore, due to the uncertainty of RERs and EVs, the conditional value-at-risk (CVaR) method is applied in order to limit the risk of expected profit. The model is transformed into a linear single-level model by the Karush-Kuhn-Tucker (KKT) conditions and tested on the IEEE 33-bus distribution system over a 24-h period. The results show that by using a proper charging/discharging schedule, as well as a time of use program, SDISCO gains more profit. Furthermore, by increasing the risk aversion parameter, this profit is reduced.
- Subjects
MICROGRIDS; ELECTRIC vehicles; ENERGY management; PHOTOVOLTAIC power generation; SOLAR energy
- Publication
Energies (19961073), 2017, Vol 10, Issue 11, p1714
- ISSN
1996-1073
- Publication type
Article
- DOI
10.3390/en10111714