A bi?level model for co?expansion planning of generation and energy storage system (ESS) with contract pricing

In co-expansion planning of generation and storage systems, the investor aims to determine time, location, capacity energy units. The main challenge is install these systems in a way that investor's profit maximized. addition, market-clearing must take place order optimize social welfare. This paper studies problem as bi-level model involves expansion Generating units include wind gas turbines system (ESS) compressed air. addresses upper-level increasing profits lower-level Simulation results show an can achieve highest possible by simultaneously investing turbine well using strategic behaviour (price offer/bid close market price) participating spot guaranteed purchase contract. improving load growth rate contracts increase investment generation-storage simulation this study are compared with other for validation purposes.