Optimal Offering and Operating Strategies for Wind-Storage System Participating in Spot Electricity Markets with Progressive Stochastic-Robust Hybrid Optimization Model Series

Table 1

Presentations for the urgent competitive characteristics of the reviewed researches.

Approaches	Representative literature	Main features	Shortcomings
Deterministic optimization models	[10, 11]	Easy to understand and feasible for testing system performance from both the technical and economic perspectives etc	Uncertainties are not mathematically considered and modeled.
SO based models	[12–22]	Describing uncertainties of wind power and/or prices by using stochastic scenarios, pursuing the maximization of expected profit and/or profit CVaR while considering operational constraint under each stochastic scenario etc.	Requiring considerable computational effort, discretized wind power scenarios cannot guarantee the satisfaction of a WF-ESS’s obtained offering and/or operating strategies for all operational constraints etc.
RO based models	[23–29]	Describing uncertainties of wind power and/or prices by using continuous uncertainty set, pursuing the maximization of profit under the worst-case point in the uncertainty set, Requiring low computational effort, and maintaining robustness of resisting uncertainties etc.	Often resulting in over conservativeness (severely sacrifice the optimality of the obtained offering and/or operating strategies for a WF-ESS) etc.