A Comprehensive Model to Integrate Emerging Resources from Supply and Demand Sides

This paper extensively models the interactions of emerging players in future power systems to analyze their impacts on electricity markets. To this end, renewable energy resources are modeled in such a way that wind power poses uncertainty on the supply side, and rooftop photovoltaics add uncertainty to the demand side. Moreover, both uncontrolled and controlled behaviors of individual electric vehicles (EV) in electricity markets are addressed through a new EV model. Further, a comprehensive demand response model considering several customer-driven constraints is developed to undertake the practical constraints of customers. A stochastic market clearing formulation is presented to comprehensively account for the unique features of the given resources while evaluating their impacts. The numerical results clearly show the importance of such modeling in electricity markets to investigate the mutual impacts of emerging resources.