Research Database

Despite the variability in the output, solar photovoltaic installations have steadily increased around the globe. To ensure the scheduled PV power output and reliability, the system should be grid-connected or have storage, of which grid is the cheaper option. Virtual Battery (VB) is the operational concept where utility allows the prosumer to export their surplus PV output to the grid and receive the same energy back from the grid, charging the premium for storage. Instead of using an actual battery, for the utility to store the prosumers’ energy at a lower cost, this paper proposes a concept called a co-located power plant (CLPP), made of existing hydropower plants combined with floating solar PV (FPV) and nearby wind turbines. Since PV and WTs can complement each other in many ways, CLPP can provide the virtual battery service in addition to normal generation. Optimal generation scheduling of the CLPP while facilitating the VB service is presented here. CLPP profit is maximized using stochastic weight trade-off chaotic particle swarm optimization. The VB service increases the CLPP profit by 37.87 percent as compared to regular service, according to test results from a modified IEEE 24-bus system. From the perspective of the prosumer, VB offers a cheaper storage than battery energy storage, and doubling the profit.