Assessing power profile characteristics in solar PV-storage integrated electricity markets: A quantitative study

Integrating solar PV inverters and storage devices into the modern power grid generates multiple power profiles with varying magnitudes. The intermittent nature of PV necessitates installing storage devices to reduce unit commitment challenges and accommodate reserve power. This paper proposes various operational factors to determine the boundaries for individual and aggregated power profiles within a cluster of PV systems and storage units. The study utilizes dispatchability and operating reserve factors (primary and secondary) during storage discharge mode to extract dispatchable power and primary and secondary reserve power. Similarly, storage arbitrage and non-dispatchability factors extract arbitrage, non-dispatchable, and a portion of supplemental or tertiary reserve power during storage charging mode. An optimization model leveraging mixed-integer linear programming is formulated to minimize operational expenditures considering these hybrid PV-storage power profiles. Extrapolated electricity market rates for hybrid power profiles are projected using the prevailing prices of photovoltaic (PV) systems and storage technologies. This paper utilizes the proposed aggregated operational factors as constraints while extracting these power profiles for a cluster of PV-storages. The efficacy of the proposed optimization framework is tested on a modified IEEE 34-bus system by adding 10 PV-storage devices on 10 buses. The final quantitative values correspond to the percent penetration and arbitrage of these power profiles.