Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

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 revenue

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these General Management questions