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please find the maximum revenue using opl (cplex ibm code) 1. Energy Arbitrage (5 marks) Energy arbitrage is a technique where power is bought during
please find the maximum revenue using opl (cplex ibm code)
1. Energy Arbitrage (5 marks) Energy arbitrage is a technique where power is bought during off-peak hours (when grid prices are cheapest) and then stored and used during peak hours (when grid electricity prices are highest). A battery energy storage system (BESS) is to be used for energy arbitrage profit. The BESS has the following parameters: - Maximum rate of charging 100kW - Maximum rate of discharge 90kW - Overall maximum stored capacity 480kWh - MDOD=80% - Charging efficiency 90% - Discharging efficiency 87% - Initial SOC 35% The energy prices are given below: Formulate an LP to maximize the revenue from energy arbitrage a) Provide a list of sets, variables, and parameters. b) Write down the problem formulation d) What is the maximum revenueStep by Step Solution
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