Optimizing Flexibility in Virtual Power Plants
March 13-14, 2024

Summary

Florian Kuhnlenz’s presentation on “Marketing Flexibility in a Virtual Power Plant” delves into the use of optimization techniques to market flexibility within Energy2Market’s (E2) virtual power plant. By managing over 4000 assets, E2 leverages power production and flexibility to navigate various energy markets, especially as renewable energy integration increases. Kuhnlenz emphasizes the importance of understanding market dynamics for effective power and flexibility trading.

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Challenge

With the rise of renewable energy adoption, traditional energy markets experience shifts, requiring adaptive power trading strategies. Understanding and responding to market behaviors, such as price fluctuations and grid stress events, presents significant challenges.

Solution

Energy2Market addresses these challenges using its proprietary Presumed Optimization Library to tailor optimization problems for its virtual power plant. This involves modeling diverse energy assets and optimizing power generation schedules based on market trends. The process incorporates operational limits, market regulations, and grid requirements. Continuous and rolling optimization techniques allow E2 to dynamically respond to market changes and maximize revenue.

Results

The presentation highlights two use cases demonstrating the effectiveness of optimization. One involves a biogas power plant, where optimization aligns power generation with market price fluctuations. The other focuses on a solar power plant with battery storage, showing dynamic power trading adjustments based on real-time data. The results reveal significant revenue potential and grid support capabilities from optimized power trading strategies.