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Development of Incentive Model for Photovoltaic Generators to Participate in a Day-ahead Electricity Market in South Korea
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Publication Year
2019-05-01
Journal
2019 IEEE PES Innovative Smart Grid Technologies Asia, ISGT 2019
Publisher
Institute of Electrical and Electronics Engineers Inc.
Citation
2019 IEEE PES Innovative Smart Grid Technologies Asia, ISGT 2019, pp.2898-2902
Keyword
Day-ahead Electricity MarketEnergy Storage System (ESS)Incentive ModelPhotovoltaic (PV)
Mesh Keyword
Day-ahead electricity marketEnergy storage systemsIncentive modelsIndependent systemsPhotovoltaicRenewable energy certificatesSupporting policiesSystem marginal price
All Science Classification Codes (ASJC)
Artificial IntelligenceComputer Networks and CommunicationsEnergy Engineering and Power TechnologyRenewable Energy, Sustainability and the EnvironmentElectrical and Electronic EngineeringControl and Optimization
Abstract
This paper presents the incentive model when Photovoltaic (PV) generator participates in a day-ahead market in South Korea. For this, the current supporting policy for PV generation and rules of a day-ahead market are analyzed. Because of the lack of the incentive model for PV supplier in a day-ahead market, Independent System Operation (ISO) can't consider PV generation when they plan the short-term supply of the system. Therefore, the proposed incentive model is developed to provide the additional profit to encourage PV supplier to participate in the market based on the accuracy of PV generation bidding. To verify incentive model, the actual data including PV generation, System Marginal Price (SMP) and Renewable Energy Certificate (REC) price are used.
Language
eng
URI
https://aurora.ajou.ac.kr/handle/2018.oak/36457
https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85074941066&origin=inward
DOI
https://doi.org/10.1109/isgt-asia.2019.8881082
Journal URL
http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=8864995
Type
Conference
Funding
ACKNOWLEDGMENT This work was supported by the Korea Institute of Energy Technology Evaluation and Planning (KETEP) and the Ministry of Trade, Industry & Energy (MOTIE) of the Republic of Korea (No. 20172410100040).This work was supported by the Korea Institute of Energy Technology Evaluation and Planning (KETEP) and the Ministry of Trade, Industry & Energy (MOTIE) of the Republic of Korea (No. 20172410100040).
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Jung, Jaesung  Image
Jung, Jaesung 정재성
Department of Electrical and Computer Engineering
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