Abstract
Virtual power plants (VPPs) are becoming more popular worldwide due to their diversified characteristics, the potential to provide energy flexibility, durability, and smarter electrical grid system, as well as economic benefits. Despite its significance, VPP currently has a very limited presence in the energy markets. A lack of systematic assessment of the multiple factors has been identified as the main reason for VPP’s limited admittance into the energy markets. This necessitates research initiatives that consider superior approaches and frameworks for the sustainable future of VPPs. A novel multi-aspect framework (MAF) is proposed in this study to examine objectively multi-dimensional aspects. A STEEP (social, technological, environmental, economic, and political) analysis tool is used to assess the challenges, opportunities, and benefits of VPP in the energy market. The approach outlines the essential factors and actions needed to address the challenges of VPP admittance in the energy markets. This study demonstrated that there is still more work to be done to support the fast and wide-scale adoption of sustainable VPP applications. For this reason, a more favourable policy and regulatory framework based on social, technological, economic, environmental, and policy considerations are necessary to realize the genuine contributions of a VPP.
| Original language | English |
|---|---|
| Title of host publication | Proceedings: 2023 IEEE 5th Global Power, Energy and Communication Conference (IEEE GPECOM2023) |
| Publisher | IEEE |
| Pages | 370-375 |
| Number of pages | 6 |
| ISBN (Electronic) | 9798350301984 |
| ISBN (Print) | 9798350301991 |
| DOIs | |
| Publication status | Published - 14 Jul 2023 |
| Event | 2023 IEEE 5th Global Power, Energy and Communication Conference - Ramada by Wyndham, Cappadocia, Turkey Duration: 14 Jun 2023 → 16 Jun 2023 https://gpecom.org/2023/ (Link to conference website) |
Publication series
| Name | |
|---|---|
| ISSN (Print) | 2832-7667 |
| ISSN (Electronic) | 2832-7675 |
Conference
| Conference | 2023 IEEE 5th Global Power, Energy and Communication Conference |
|---|---|
| Abbreviated title | IEEE GPECOM2023 |
| Country/Territory | Turkey |
| City | Cappadocia |
| Period | 14/06/23 → 16/06/23 |
| Internet address |
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Keywords
- Distributed generator
- Demand response
- Distributed energy sources
- Virtual power plant
ASJC Scopus subject areas
- Control and Optimization
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering
- Computer Networks and Communications
- Renewable Energy, Sustainability and the Environment
Documents and Links
- Author accepted manuscript
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