The bidding price for the renewable energy is very different from some traditional energy, like gas, coal and so on, because when we produced... Show moreThe bidding price for the renewable energy is very different from some traditional energy, like gas, coal and so on, because when we produced the renewable energy, the only cost is the generator unit cost, for example, wind power, water power and so on. People never need to pay the fuel price for the solar, water or wind. So here come one question how can we decide the energy price for these power. As we all know, the bidding price decided the profit for the generating company. Nowadays, more and more researches have been done in this field for every company want a good price to earn the highest profit. But for the renewable energy, they are different from the traditional energy which price is determined by the fuel price. So how to decide the bidding price of the renewable energy will be a good topic and question for us. To solve this problem, I will try to use an idea called minimum the imbalance in order to maximum the profit for those owners. This idea first has been applied in the wind unit. For my thesis, I will apply this idea to the hydro unit both with the storage and without storage. For each part, I will use some data to test. By these testing, the result will show this bidding strategy will be better. M.S. in Electrical Engineering, May 2013 Show less
