The large-scale integration of renewable generation directly affects thereliability of power grids. We investigate the problem of power balancing in ageneral renewable-integrated power grid with storage and flexible loads. Weconsider a power grid that is supplied by one conventional generator (CG) andmultiple renewable generators (RGs) each co-located with storage,and isconnected with external markets. An aggregator operates the power grid tomaintain power balance between supply and demand. Aiming at minimizing thelong-term system cost, we first propose a real-time centralized power balancingsolution, taking into account the uncertainty of the renewable generation,loads, and energy prices. We then provide a distributed implementationalgorithm, significantly reducing both computational burden and communicationoverhead. We demonstrate that our proposed algorithm is asymptotically optimalas the storage capacity increases and the CG ramping constraint loosens.Moreover, the distributed implementation enjoys a fast convergence rate, andenables each RG and the aggregator to make their own decisions. Simulationshows that our proposed algorithm outperforms alternatives and can achievenear-optimal performance for a wide range of storage capacity.
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