A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets

Nowadays, Day-Ahead market price cannibalization particularly affects photovoltaic (PV) plants, as this phenomenon impacts the revenue per unit of energy. However, renewable assets can participate in balancing services to increase their market revenues. Despite many research articles proposed complex optimization techniques, the market bidding of operational PV assets remains unsophisticated nowadays. This article studies and compares the market strategies of PV plants during near-zero price days in Spain, highlighting how these PV plants, despite having similar characteristics, operate with significantly different market decisions. It concludes that participation in balancing markets increases solar value by capturing higher revenues. Solar trackers also enhance daily solar generation. In the future, market agents of PV systems should adjust their operations to multiple energy markets and trends in market prices to optimize revenue stacking.