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Economic Analysis of Photovoltaic power plants trading in Indian Electricity Market

April 23 @ 3:30 pm - 4:00 pm

Date : 23rd April 2018 (Monday)

Time : 3:30 PM

Venue : ESB 244

Speaker : Saranya A (EE15S070)

GTC Members :

Dr. Mahesh Kumar (Chairperson)

Dr. Shanti Swarup K (G)

Dr.  Ramakrishna Pasumarthy (M)

Dr. Shankar Narasimhan (M)(CHL)

Abstract:

Electricity generation from renewable power plants have been increasingly given impor­tance worldwide to combat the climate change and to reduce the reliance on fossil fuels. Presently, the economic models and support structures, which provide revenue streams to the renewable power plants, are continuously being revised based on the manufacturing costs of the plants and the economic growth of the country. This research work analyses the existing economic model for trading of power from renewable power plants in India and proposes the oering of power from photovoltaic power plants in the day-ahead electricity market to overcome the diculties faced in the existing model. This work also suggests three frameworks for the frequency dependent imbalance pricing of renewable power plants in the balancing market and discusses the impact of each framework on various stakeholders. The proposed model is formulated as a two-stage stochastic programming problem and the results obtained are evaluated against quality metrics like out of sample assessment, expected value of perfect information and value of stochastic solution. This work serves as an important piece of research in enabling the grid-connected photovoltaic plants in India to increase their revenues by trading in the day-ahead market and avoid back downs by doing so.

Details

Date:
April 23
Time:
3:30 pm - 4:00 pm
Event Category:

Venue

ESB – 244
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