Renewable energy will become a normal energy source and will be required to participate in the market. The renewable portfolio standards (RPS) together with tradable green certificates (TGC) are considered as an appropriate market mechanism to help recover renewable energy investments. The strategic offering behaviors of renewable energy should be carefully studied, especially with the introduction of TGC. This paper proposed a market equilibrium model with joint consideration on energy and TGC. The model includes two-stages of day-ahead and real-time analysis, to formulate the complex decision processes of strategic renewable energy. The model is built in a bilevel format, with multiple-scenario settings to consider the uncertainty of renewable power output within a day. Then, the bilevel model is reformulated as a single-level nonlinear problem based on KKT theorems. Then, the nonlinearities are linearized based on the strong duality theorem and a binary expansion method. The model has been finally transformed as a mix integer linear problem. Finally, an illustrative example is proposed to analyze the strategic offering behaviors of renewable energy under various market situations.

中文翻译：

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结合能源和可交易绿色证书市场的可再生能源战略行为建模

可再生能源将成为一种正常的能源，将被要求参与市场。可再生能源投资组合标准 (RPS) 和可交易绿色证书 (TGC) 被视为有助于回收可再生能源投资的适当市场机制。应仔细研究可再生能源的战略提供行为，尤其是在引入 TGC 后。本文提出了一个综合考虑能源和TGC的市场均衡模型。该模型包括日前分析和实时分析两个阶段，以制定战略性可再生能源的复杂决策过程。该模型以双层格式构建，具有多场景设置以考虑一天内可再生能源输出的不确定性。然后，双层模型被重新表述为基于 KKT 定理的单层非线性问题。然后，基于强对偶定理和二元展开方法将非线性线性化。该模型最终转化为混合整数线性问题。最后，提出了一个说明性的例子来分析不同市场情况下可再生能源的战略发行行为。