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Energies 2017, 10(11), 1714; https://doi.org/10.3390/en10111714

Risk-Based Bi-Level Model for Simultaneous Profit Maximization of a Smart Distribution Company and Electric Vehicle Parking Lot Owner

1
Department of Electrical and Computer Engineering, University of Kurdistan, Sanandaj 66177-15177, Kurdistan, Iran
2
C-MAST, University of Beira Interior, R. Fonte do Lameiro, 6201-001 Covilha, Portugal
3
INESC-TEC, Faculty of Engineering, University of Porto, Rua Dr. Roberto Frias, 4200-465 Porto, Portugal
4
INESC-ID, Instituto Superior Técnico, University of Lisbon, Av. Rovisco Pais, 1049-001 Lisbon, Portugal
*
Authors to whom correspondence should be addressed.
Academic Editor: Angela Russo
Received: 24 September 2017 / Revised: 17 October 2017 / Accepted: 23 October 2017 / Published: 26 October 2017
(This article belongs to the Special Issue Risk-Based Methods Applied to Power and Energy Systems)
Full-Text   |   PDF [2238 KB, uploaded 27 October 2017]   |  

Abstract

In this paper, the effect of renewable energy resources (RERs), demand response (DR) programs and electric vehicles (EVs) is evaluated on the optimal operation of a smart distribution company (SDISCO) in the form of a new bi-level model. According to the existence of private electric vehicle parking lots (PLs) in the network, the aim of both levels is to maximize the profits of SDISCO and the PL owners. Furthermore, due to the uncertainty of RERs and EVs, the conditional value-at-risk (CVaR) method is applied in order to limit the risk of expected profit. The model is transformed into a linear single-level model by the Karush–Kuhn–Tucker (KKT) conditions and tested on the IEEE 33-bus distribution system over a 24-h period. The results show that by using a proper charging/discharging schedule, as well as a time of use program, SDISCO gains more profit. Furthermore, by increasing the risk aversion parameter, this profit is reduced. View Full-Text
Keywords: bi-level model; optimal operation; electric vehicle; demand response program; conditional value-at-risk bi-level model; optimal operation; electric vehicle; demand response program; conditional value-at-risk
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Bagher Sadati, S.M.; Moshtagh, J.; Shafie-khah, M.; Catalão, J.P.S. Risk-Based Bi-Level Model for Simultaneous Profit Maximization of a Smart Distribution Company and Electric Vehicle Parking Lot Owner. Energies 2017, 10, 1714.

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