Profit Maximization of a Wind-Integrated System by V2G Method

An essential component of a power system network is profiting maximization for both power producers and consumers. When demand is low, electricity on the electrical grid is easily available. The electrical system can be supported during periods of high demand by storing any excess energy in storage units. Thus, the grid’s stability and safe functioning are guaranteed. The requirement for an energy storage system in a power system that runs on renewable energy is increased due to the unpredictable nature of renewable energy sources. Recently, a method of employing renewable resources to preserve power system stability has surfaced: vehicle-to-grid (V2G) technology. The V2G storage devices can be used to make more money during periods of high demand. This effort’s primary goal is to determine where in a power network the V2G system will be most profitable and cost-effective. A deregulated electrical environment’s whole economy is taken into account in this study together with the effects of V2G integration. To replicate the suggested work, MATPOWER software is used using the IEEE 14-bus system.