An interactive multi-criteria decision-making framework between a renewable power plant planner and the independent system operator

Abstract

Abstract Providing efficient support mechanisms for renewable energy promotion has drawn much attention from researchers in the recent years. The connection of a new renewable power plant to the transmission system has impacts on different electricity market indices since the other strategic generation units change their behaviour in the new multi-agent environment. In this paper, as the main contribution to the previous literature, a combination of multi-criteria decision-making approach and multi-agent modelling technique is developed to obtain the maximum possible profits for an intended renewable generation plan and also direct the investment to be located in a way to improve electricity market indices besides supporting renewable energy promotion. Fuzzy Q-learning electricity market modelling approach in combination with the technique for order preference by similarity (TOPSIS) is used as a new decision support system for promotion of renewable energy for the first time in the literature. The proposed interactive multi-criteria decision-making framework between the independent system operator (ISO) and the renewable power plant planner provides a win-win situation that improve market indices while help the renewable power plant planning. The effectiveness of the proposed method is examined on the IEEE 30-bus test system and the results are discussed.