Empirical Evaluation for Reducing Imbalances and Improving Profitability in Renewable Energy Aggregation

Abstract

To further promote renewable energy, the Feed-in-Premium (FIP) system was launched in April 2022 in Japan. Under the FIP scheme, renewable energy power producers and aggregators have faced new issues, which are imbalance risk due to the responsibility for planned amounts of power and market risk due to fluctuating power market prices. In order to address these issues, highly accurate renewable energy generation forecasting, imbalance reduction, and profitability enhancement technologies are required. However, comprehensive studies on the effectiveness of these necessary technologies through empirical evaluations using actual energy resources under the real environments have not been sufficiently conducted. In this paper, we conduct large-scale demonstration evaluation of the renewable energy generation forecasting technologies, the power market trading strategy technologies, and the battery control technologies using actual energy resources across the country, such as photovoltaic (PV) generators, wind power generators and storage batteries. Through the empirical evaluations, it is clarified that the evaluated technologies contribute to reducing imbalance risk and improving profitability with respect to imbalance risk and market risk, respectively.