1.Electric Power Research Institute of China Southern Power Grid Company Limited, Guangzhou 510663, China;2.National Key Laboratory of New Power System Operation and Control (Tsinghua University), Beijing 100084, China;3.Shenzhen Power Supply Bureau Co., Ltd., Shenzhen 518000, China

Enhancing demand-side coordination capability is one of the key initiatives to accelerate the construction of new power system. This facilitates the development of demand-side flexibility, improves the retail-side market framework, and diversifies grid regulation methods. Among various typical models emerging in demand-side management, the virtual power plant (VPP) functions as a novel “power source” combining flexible regulation attributes with market trading capabilities. Through multi-dimensional interactions with the power system, VPPs provide multi-temporal balancing regulation capabilities, thereby obtaining market value. However, existing VPP technologies still lack a dedicated systematic framework and analytical theory. The operation characteristics, interaction mechanisms, and dynamic aggregation problems of massive distributed resources have yet been fully addressed, which leads to significant obstacles to large-scale application and routine operation of VPPs for sustainable development. To this end, this paper first conducts an in-depth analysis of the technical essence of VPPs from first principles perspective, organizes the technical requirements imposed by differentiated market trading varieties for various types of VPPs, and proposes the objectives for constructing the VPP technical system. Then, a key technology system for multi-type VPPs across four dimensions is established: fundamental commonality, engineering application, key equipment, and characteristic research. Finally, this paper summarizes project implementation, operational status, and market effectiveness of VPPs in China. Forward-looking recommendations to address limitations in existing technical system are proposed, thereby providing theoretical support for routine operation and standardized application of VPPs.