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This paper proposes a novel approach to address hierarchical multi-objective optimization for residential virtual power plant (VPP) in a coordinated and efficient manner. The solution is flexible and caters to the diverse needs of stakeholders. It serves as a foundation for developing an optimal control solution for a residential distributed energy storage systems (ESS)- based VPP solution. A day-ahead scheduling using a novel hierarchical multi-objective optimization approach is developed for the ESS energy capacity and power budget allocation. The objectives are to simultaneously provide multiple local services, optimize the distributed ESS deployment, and provide the aggregator a clear visibility of the ESS remaining resources. This visibility of the features and use of remaining energy capacity and power budget will help the aggregator to create a virtual ESS that can be applied to provide additional services in the local and wholesale energy market. A focus on power-oriented applications provision is considered further; however, the results could be extended easily to other services. Real case studies utilizing data from the StoreNet project and complying with Irish energy market regulations further illuminate the discussion. The results obtained from employing different design methods are thoroughly examined, shedding light on their respective merits and limitations.
Bahloul et al. (Mon,) studied this question.