Energy Management Strategy and Pricing Mechanism of Renewable Resources Coupling with Traditional Generations in Electricity Markets

With the development of energy trading and renewable technologies, the demand supplied by renewable generations continues to grow in the world. The traditional energy sources such as oil, coal, and natural gas are still the main sources of energy supply. Moreover, the renewable resources such as solar energy, wind energy in this paper are also showing a trend of rapid development. How to effectively utilize these two kinds of energy sources with the energy management strategy and how to price and trade in the energy markets are the problems that need to be solved in the world field. In this paper, the analysis and simulation of the energy management strategy for the renewable resources coupled with traditional generations and the pricing mechanism in electricity markets are the objective problems conditions by establishing a mathematical model. By comparing different energy management methods, the energy management strategy is proposed to be applicable to the renewable & traditional energy resources system with energy trading in electricity markets. Through non-cooperative game theory modeling, we will study the determinants of energy trading prices and the coupled trading strategies with different capacities of BESS and renewable generations. conditions. Furthermore, it is proved that how market participants can take advantage of these price fluctuations to make investment decisions and reduce energy expenditure costs. The proposed model is evaluated on the IEEE 18-bus system with the real historical data.