Affinely Adjustable Robust Bidding Strategy for a Solar Plant Paired With a Battery Storage

Due to green power generation, large solar plants with capacities in the order of several MWs are increasingly installed worldwide and plenty of these plants participate in electricity markets. However, the uncertain production of a solar plant poses a noticeable risk to the profit of a solar producer. To overcome the associated risk, storage systems have been recently paired with solar plants. Not only storage systems can increase the reliability of photovoltaic (PV) solar power, but also can increase economic benefits through energy arbitrage in an electricity market. Although paring a storage system with a solar plant is an economically promising combination, a proper bidding strategy model, which appropriately characterizes the uncertainties of both PV solar power productions and electricity prices, is essential. To do so, this paper proposes an affinely adjustable robust bidding strategy for a solar producer paired with a battery storage system. The uncertainties associated with solar power productions and electricity prices are characterized through bounded intervals in a controllable polyhedral uncertainty set. Affine functions are used to solve the proposed model directly without decomposition. Numerical results illustrate the effectiveness of the proposed method.