The Independent System Operator (ISO) plays a key role in a competitive electrical system by controlling the market with the received bidding from the different market participants. The ISO settled the energy at the location-based marginal pricing (LBMP) where all the participants get economic benefits. In the renewable combined system, the future renewable power production data need to be submitted to the ISO at least one day before the operation. There is always a chance for not fulfilling the contracted power due to the volatile nature of the renewable which creates an imbalance price in the system. In this situation, energy storage systems can alleviate the imbalance issues by supplying additional power to the electrical grid. This study proposes a two-phase scheduling technique for the optimum operation of a wind farm (WF)–pumped hydro storage (PHS)–solar-connected electric vehicle (EV) hybrid system to obtain more economic profit and revenue with a stable grid frequency. In the first phase, the energy level of PHS upper reservoirs has been scheduled to maintain the grid frequency with the presence of a wind farm. Along with the first phase, additionally solar-connected EVs are incorporated in the second phase to maximize the system profit further to get more economic benefit. A modified IEEE 30 bus system is used to effectively assess the aforesaid approach. MiPower software has been used to conduct this work. This proposed method has been compared with the existing method and got better results in all aspects.
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