In Part II of this paper, we demonstrate on a modified 24-bus IEEE Reliability Test System (RTS) that it is indeed possible to manage large-scale intermittent resources in coordination with price-responsive demand. The algorithms introduced in Part I of this paper are simulated assuming 20% and 50% wind capacity. We show that the look-ahead dispatch of the proposed method is physically implementable and, when used with elastic demand, can accommodate the integration of close to 50% wind capacity. This is contrasted with the observation that, without elastic demand, 50% wind integration is not physically implementable. From the perspective of total market surplus, the predictive dispatch of the proposed method is 3.8% suboptimal when compared to the centralized most efficient predictive economic dispatch. Further simulations are needed to test the feasibility of coordinating wind power and price-responsive demand on realistic large-scale power systems.
[1]
W. Jevons.
Theory of Political Economy
,
1965
.
[2]
Mohammad Shahidehpour,et al.
The IEEE Reliability Test System-1996. A report prepared by the Reliability Test System Task Force of the Application of Probability Methods Subcommittee
,
1999
.
[3]
Thomas Müller-Bohn,et al.
Cost-Benefit Analysis
,
2015
.
[4]
Margaret Wright.
Mathematical Research Challenges in Optimization of Complex Systems
,
2006
.
[5]
Marija D. Ilic,et al.
Model predictive economic/environmental dispatch of power systems with intermittent resources
,
2009,
2009 IEEE Power & Energy Society General Meeting.
[6]
Ahmad Faruqui,et al.
The impact of informational feedback on energy consumption d A survey of the experimental evidence
,
2010
.