Stability analysis of nonlinear stochastic flexibility function in smart energy systems
Abstract
Demand-side management provides a great potential for improving the efficiency and reliability of energy systems. This requires a mechanism to connect the market level and the demand side. The flexibility function is a novel approach that bridges the gap between the markets and the dynamics of physical assets at the lower levels of the energy systems and activates demand-side flexibility with the purpose of decision-making as well as for offering a new framework for balancing and grid services. Employing this function as a key for many decision-making and control algorithms reveals that a mathematically rigorous stability analysis is required for it. In this paper, we investigate the stability properties of two nonlinear flexibility functions, as a dynamic mapping between electricity price and power consumption. Specifically, we analyze the stability of a deterministic flexibility function and an It\^{o} stochastic flexibility function. Simulation results are also provided to demonstrate the dynamics of the flexibility functions and to show that the analytical results hold.
Cite
@article{arxiv.2405.15099,
title = {Stability analysis of nonlinear stochastic flexibility function in smart energy systems},
author = {Seyed Shahabaldin Tohidi and Tobias K. S. Ritschel and Georgios Tsaousoglou and Uffe Høgsbro Thygesen and Henrik Madsen},
journal= {arXiv preprint arXiv:2405.15099},
year = {2024}
}