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Renewable Energy Power's Investment and Production Strategy for Centralized Noncooperative Game Model of Power Sales with Grid's Risk Avoidance | IEEE Conference Publication | IEEE Xplore

Renewable Energy Power's Investment and Production Strategy for Centralized Noncooperative Game Model of Power Sales with Grid's Risk Avoidance


Abstract:

This paper constructs a centralized noncooperative game model of power sales with grid's risk avoidance and its renewable energy power's investment and production strateg...Show More

Abstract:

This paper constructs a centralized noncooperative game model of power sales with grid's risk avoidance and its renewable energy power's investment and production strategy considering renewable energy power production quotas and green power certificate system based on a method which combines the nonlinear programming theory and the Nash equilibrium for the complete information static game, is investigated. The result of the investigation shows that there exists a unique optimal renewable energy power's investment and production strategy (i.e., the optimal renewable energy utilization rates and the optimal power production quantities) for the proposed model. Moreover, it's proven that an increase in the risk-aversion coefficient of the grid would improve the optimal power price and the demand for the optimal total power production quantity based on which the risk-neutral duopoly oligopoly energy suppliers would seize the opportunity to raise investment costs in renewable energy technologies and improve the optimal renewable energy utilization rates for boosting the optimal power production quantities from their own perspective. Finally, numerical verifications for the unique optimal renewable energy power's investment and production strategy and the corresponding optimal revenue functions for the proposed model is realized on the integrated simulation platform of MATLAB and V-REP by utilizing the gradient-like optimization method.
Date of Conference: 16-19 October 2023
Date Added to IEEE Xplore: 16 November 2023
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Conference Location: Singapore, Singapore

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