Techno-economic assessment of combined power to hydrogen technology and hydrogen storage in optimal bidding strategy of high renewable units-penetrated microgrids

•Proposing an optimal bidding strategy for the renewable-based MG to participate as power and spinning reserve players in the wholesale market under the condition of suffering from the high surplus power.•Applying the UT technique to the MG’s bidding strategy problem as a result of modeling uncertainties.•Examining of techno/economic efficiency by considering the P2H technology in the high renewable units-penetrated microgrids.•Showing the reduction of nearly 26 The decision-making process for the optimal bidding strategy of microgrids (MGs), which suffer from the surplus power due to the high penetration of the intermittent resources, is not without challenge. To deal with this problem, this paper proposes a new approach for determining the optimal bidding strategies for the MG modified by the renewable resources in the day-ahead energy and spinning reserve markets using the capacities of the power to hydrogen (P2H) and hydrogen storage (HS) technologies. To fulfill this aim, the unscented transformation has been used to model the uncertainties related to renewable resources, load consumption and electricity price in the entity in an efficient way. The findings reveal that the cost of operating the system without energy storage is 779$ while by using an energy storage system (ESS) it is reduced to 741$ which shows a 4% reduction in the costs. Also, by using ESS as both energy and reserve suppliers, the cost of operating becomes 640$ indicating an 18% reduction. However, using HS system reduces the operational cost as much as 26% and 40% for energy supplier and both energy and reserve suppliers, leading to 577$ and 487$, respectively.