Exploration on the Coordinated Development Path of Power Market and New Energy under Smart Grid System

Xu Han

doi:10.54691/nkx8ym25

Authors

Xu Han Engineering Science, University of New South Wales, Sydney 2052, Australia

DOI:

https://doi.org/10.54691/nkx8ym25

Keywords:

Smart Grid; Power Market; Renewable Energy; Renewable Integration; Market Coordination; Flexibility.

Abstract

This paper studies the coordinated development path of power markets and new energy in a smart-grid system. With the increase in the proportion of renewable energy, a centralized dispatch system for the power market will be gradually replaced by a flexible, data-driven multi-agent coordination model. The technical foundations of smart grids include the digitalisation of metering systems, real-time communication, and distributed control technologies. The coordinated development of market mechanisms, grid operations, and renewable-energy policies is essential for successful integration. Based on recent research on smart grids, electricity market modelling, renewable energy integration, and market design under high-renewable conditions, the four main paths have been identified in this article: market-based flexibility allocation, distributed energy participation, data-enabled forecasting and settlement, and institutional coordination among grid operators, regulators and renewable energy producers. Therefore, the paper concludes that smart-grid-enabled market reforms are needed to build a stable power supply system for renewables.

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