A market‐oriented wind power dispatch strategy using adaptive price thresholds and battery energy storage

In this paper, an adaptive dispatch strategy is presented to maximize the revenue for grid‐tied wind power plant coupled with a battery energy storage system (BESS). The proposed idea is mainly based on time‐varying market‐price thresholds, which are varied according to the proposed algorithm in an adaptive manner. The variable nature of wind power and market price signals leads to the idea of storing energy at low price periods and consequently selling it at high prices. In fact, the wind farm operators can take advantage of the price variability to earn additional income and to maximize the operational profit based on the choice of best price thresholds at each instant of time. This research study proposes an efficient strategy for intermittent power dispatch along with the optimal operation of a BESS in the presence of physical limits and constraints. The strategy is tested and validated with different BESSs, and the percentage improvement of income is calculated. The simulation results, based on actual wind farm and market‐price data, depict the proficiency of the proposed methodology over standard linear programming methods.