Bidding Strategy for New Energy Stations considering Wind and Solar Uncertainty in the Energy-Frequency Modulation Ancillary Service Market

Abstract

With the increasing penetration of renewable energy sources in the 
power grid due to the high proportion of renewable energy integration, a system 
architecture is proposed for joint participation of wind, solar, and electric energy 
storage in both the energy market and frequency regulation ancillary service mar
ket. To improve the implementation accuracy of day-ahead schedules, a deviation 
penalty mechanism is introduced. Considering uncertainties in wind power, solar 
irradiance amplitude, a day-ahead and real-time coordinated bidding model based 
on typical scenarios is constructed to maximize the overall expected economic 
benefit of the integrated system. Simulation verification proves that compared to 
separate bidding for wind and solar power, joint bidding can mitigate bidding 
deviation penalties caused by wind power fluctuations through the flexible ad
justment characteristics of electric energy storage, thereby enhancing the overall 
revenue of the joint system.