Related papers: The Reliability Value of Storage in a Volatile Env…

We study the optimal control of storage which is used for arbitrage, i.e. for buying a commodity when it is cheap and selling it when it is expensive. Our particular concern is with the management of energy systems, although the results are…

Future ``net-zero'' electricity systems in which all or most generation is renewable may require very high volumes of storage, provided jointly by a number of heterogeneous technologies, in order to manage the associated variability in the…

We formulate the optimal placement, sizing and control of storage devices in a power network to minimize generation costs with the intent of load shifting. We assume deterministic demand, a linearized DC approximated power flow model and a…

Motivated by the increasing need to hedge against load and generation uncertainty in the operation of power grids, we propose flexibility maximization during operation. We consider flexibility explicitly as the amount of uncertainty that…

We study the disequilibrium dynamics of a stylised model of production networks in which firms use perishable and non-substitutable intermediate inputs, so that adverse idiosyncratic productivity shocks can trigger downstream shortages and…

The integration of renewable sources poses challenges at the operational and economic levels of the power grid. In terms of keeping the balance between supply and demand, the usual scheme of supply following load may not be appropriate for…

We study the optimal control of storage which is used for both arbitrage and buffering against unexpected events, with particular applications to the control of energy systems in a stochastic and typically time-heterogeneous environment.…

Power systems face increasing weather-driven variability and, therefore, increasingly rely on flexible but energy-limited storage resources. Energy storage can buffer this variability, but its value depends on intertemporal decisions under…

The penetration of renewable energies requires additional storages to deal with intermittency. Accordingly, there is growing interest in evaluating the opportunity cost (usage value) associated with stored energy in large storages, a cost…

This paper presents a framework for deriving the storage capacity that an electricity system requires in order to satisfy a chosen risk appetite. The framework takes as inputs user-defined event categories, parameterised by peak…

As the penetration level of transmission-scale time-intermittent renewable generation resources increases, control of flexible resources will become important to mitigating the fluctuations due to these new renewable resources. Flexible…

Integrating a high share of electricity from non-dispatchable Renewable Energy Sources in a power supply system is a challenging task. One option considered in many studies dealing with prospective power systems is the installation of…

Nowadays, power imbalance happens more frequently due to the more integration of renewable energy sources. Energy storage is a kind of devices that can charge energy at one time and discharge energy at another time. This function makes that…

Securing an adequate supply of dispatchable resources is critical for keeping a power system reliable under high penetrations of variable generation. Traditional resource adequacy mechanisms are poorly suited to exploiting the growing…

Energy storage promotes the integration of renewables by operating with charge and discharge policies that balance an intermittent power supply. A key challenge in this emerging sector is how to optimize the operation of storage assets…

In this study, an optimization problem is proposed in order to obtain the maximum economic benefit from wind farms with variable and intermittent energy generation in the day ahead and balancing electricity markets. This method, which is…

This letter introduces a method to manage energy storage in electricity grids. Starting from the stochastic characterization of electricity generation and demand, we propose an equation that relates the storage level for every time-step as…

We examine a class of optimization problems involving the optimal operation of a single lossy energy storage system, where energy losses occur during charging and discharging. These inefficiencies typically lead to a nonconvex set of…

This study addresses the transmission value of energy storage in electric grids. The inherent connection between storage and transmission infrastructure is captured from a "cumulative energy" perspective, which enables the reformulating of…

It is likely that electricity storage will play a significant role in the balancing of future energy systems. A major challenge is then that of how to assess the contribution of storage to capacity adequacy, i.e. to the ability of such…