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The rapid expansion of wind and solar energy leads to an increasing volatility in the electricity generation. Previous studies have shown that storage devices provide an opportunity to balance fluctuations in the power grid. An economical…
In the Smart Grid with Renewable Energy Resources (RERs), the Residential Units (RUs) with Distributed Energy Resources (DERs) are considered to be both power consumers and suppliers. Specifically, RUs with excessive renewable generations…
As the number of prosumers with distributed energy resources (DERs) grows, the conventional centralized operation scheme may suffer from conflicting interests, privacy concerns, and incentive inadequacy. In this paper, we propose an energy…
This paper examines the value of storage in securing reliability of a system with uncertain supply and demand, and supply friction. The storage is frictionless as a supply source, but once used, it cannot be filled up instantaneously. The…
In order to increase the penetration of electric vehicles, a network of fast charging stations that can provide drivers with a certain level of quality of service (QoS) is needed. However, given the strain that such a network can exert on…
This work proposes a novel hybrid RF/FSO system based on a game theoretic spectrum trading process. It is assumed that no RF spectrum is preallocated to the FSO link and only when the link availability is severely impaired by the infrequent…
The use of energy storage to balance electric grids is increasing and, with it, the importance of operational optimisation from the twin viewpoints of cost and system stability. In this paper we assess the real option value of balancing…
The paper introduces an advanced Decentralized Energy Marketplace (DEM) integrating blockchain technology and artificial intelligence to manage energy exchanges among smart homes with energy storage systems. The proposed framework uses…
Increased penetration of Distributed Energy Resources (DER) and Renewable Energy Systems (RES) transforming the conventional distribution grid into a transactive framework supervised by a distribution system operator (DSO). Although the…
This paper applies computational techniques of convex stochastic optimization to optimal operation and valuation of electricity storages in the face of uncertain electricity prices. Our valuations are based on the indifference pricing…
The growing share of Renewable Energy Sources (RES) in modern power systems increases both grid imbalances and frequency deviations, reinforcing the need for ancillary services such as Frequency Containment Reserve (FCR) and passive…
We introduce a new and highly tractable structural model for spot and derivative prices in electricity markets. Using a stochastic model of the bid stack, we translate the demand for power and the prices of generating fuels into electricity…
The dominance of a few big companies in the storage market arising various concerns including single point of failure, privacy violation, and oligopoly. To eliminate the dependency on such a centralized storage architecture, several…
This paper proposes a simple and flexible storage model for use in a variety of multi-period optimal power flow problems. The proposed model is designed for research use in a broad assortment of contexts enabled by the following key…
Flexible loads, i.e. the loads whose power trajectory is not bound to a specific one, constitute a sizable portion of current and future electric demand. This flexibility can be used to improve the performance of the grid, should the right…
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…
This paper examines the marginal value of mobile energy storage, i.e., energy storage units that can be efficiently relocated to other locations in the power network. In particular, we formulate and analyze the joint problem for operating…
The shift towards clean energy brings about notable transformations to the energy system. In order to optimally plan a future energy system, it is necessary to consider the influence of several sectors as well as the interaction of the…
As variable renewable energy sources comprise a growing share of total electricity generation, energy storage technologies are becoming increasingly critical for balancing energy generation and demand. In this study, we modeled an existing…
Low-carbon societies will need to store vast amounts of electricity to balance intermittent generation from wind and solar energy, for example, through frequency regulation. Here, we derive an analytical solution to the decision-making…