Higher Renewable Generation Utilization via the Energy Trading Mechanism in Electricity Market

As the renewable energy generation technology advances, the rise in both the installed capacity and the proportion of renewable energy in the distributed networks has increased. As the randomness of renewable energy generation, the economic regulation of electricity market is instrumental in the effective usage of renewable energy generation, and it enhances the flexibility of electricity networks operation. Following the swift progress of renewable energy generation, there is an urgent need to establish a market-oriented trading mechanism for renewable energy in electricity market and to achieve an organic connection between sustainable energy production and the electricity market. To this end, this paper proposed a novel trading strategy for the renewable energy generation with battery energy storage system based on the electrical market system and the trading mechanism.