Assessing the economic and energy efficiency for multi-energy virtual power plants in regulated markets: A case study in Egypt

• Multiple configurations of VPP aggregating CCHP and Solar PV are assessed. New profit maximization objective function is presented for regulated markets Optimization solved with GA simulating different system sizes. The propsoed method improved the cost energy reduced grid dependency This paper investigates design operation management VPPs in markets. A new framework based on this study. hypotheses research that considering as an would yield a more realistic optimal sizes compared to Cost Energy (COE) minimization approach adopted literature. analyzed aggregates solar units, supplying power thermal energy, Battery storage system. formulated optimization model fed by demand profile, prices inputs (irradiance weather data). selling Power Purchase Agreement (PPA), consumers at public electricity tariff, assumed constant tariff. non-linear part-load efficiency also considered model, accordingly, Genetic Algorithm (GA) employed solve optimization. Results optimally configured achieved 36% improvement COE contributed 31% from total produced without imbalance, 4%, CO2 emissions 47% full grid. Statistical relationships were drawn showing relationship between profit, exergy efficiencies versus capacities. In addition, analysis provided efficiencies’ relation dumped heat CCHP.