Three-level market optimization model of virtual power plant with carbon capture equipment considering copula–CVaR theory

Abstract To achieve carbon neutrality, promoting clean and renewable energy consumption and reducing CO 2 emissions have become important measures. Therefore, virtual power plants (VPPs) containing carbon capture devices have become a research focus. This study first builds a VPP model containing carbon capture devices, analyzes the cooperative operation mode of a carbon capture system and power-to-gas, and develops a comprehensive demand response mechanism for the VPP. Second, owing to the uncertainty of the electricity market clearing price and the natural gas market price, a risk dependence model between electricity price and gas price based on the copula–conditional value-at-risk theory is constructed. Then, a VPP three-level market optimization model considering risk dependence and carbon trading mechanisms is proposed, and an improved collaborative evolutionary algorithm that combines the NSGAII and AGE-MOEA algorithms is used to solve multi-objective problems. Finally, an example of a VPP is used to verify the effectiveness of the model.