Virtual Power Plants Modeling and Simulation using Innovative Electro-Economical Concept

Most of the previous researches which intended with the subject of virtual power plants (VPPs), focused on the study of VPPs from economical point of view: auctions, bidding, trading, markets, pricing, cost, profit, benefits, risk, investors ... etc. Merely conjecture, all the VPPs' models presented are financial and economical models, with no one prescribed electrical model. In this paper, a generic VPP will be proposed and considered for the study. The proposed generic VPP will be modeled with a novel Electro-Economical Model (EEM). The proposed model was constructed on three steps: construction of electrical model, construction of economical model, and combining both electrical and economical models to form EEM of the proposed generic VPP. The proposed generic VPP consisting of four basic components: dispatchable power plant(s), flexible load(s), storage unit(s), and stochastic generating unit(s); was illustrated. This system model has been simulated. All simulation results will be demonstrated and discussed.