Related papers: Joint Investment and Operation of Microgrid
In this paper, we propose to model the energy consumption of smart grid households with energy storage systems as an intertemporal trading economy. Intertemporal trade refers to transaction of goods across time when an agent, at any time,…
To effectively enhance the integration of distributed and renewable energy sources in future smart microgrids, economical energy management accounting for the principal challenge of the variable and non-dispatchable renewables is…
As microgrids have advanced from early prototypes to relatively mature technologies, converting data center integrated commercial buildings to microgrids provides economic, reliability and resiliency enhancements for the building owners.…
Energy storage systems (ESSs) are essential components of the future smart grid to smooth out the fluctuating output of renewable energy generators. However, installing large number of ESSs for individual energy consumers may not be…
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…
Smart energy networks provide for an effective means to accommodate high penetrations of variable renewable energy sources like solar and wind, which are key for deep decarbonisation of energy production. However, given the variability of…
Due to its reduced communication overhead and robustness to failures, distributed energy management is of paramount importance in smart grids, especially in microgrids, which feature distributed generation (DG) and distributed storage (DS).…
Energy storage in data centers has mainly been used as devices to backup generators during power outages. Recently, there has been a growing interest in using energy storage devices to actively shape power consumption in data centers to…
With the phenomenal growth in renewable energy generation, the conventional synchronous generator-based power plants are gradually getting replaced by renewable energy sources-based microgrids. Such transition gives rise to the challenges…
Intermittent renewable energy resources like wind and solar pose great uncertainty of multiple time scales, from minutes to years, on the design and operation of power systems. Energy system optimization models have been developed to find…
We examine the relationship among photovoltaic (PV) investments, energy production, and environmental impact using a dynamic optimization model. Our findings show that increasing investment in renewables supports both energy generation and…
The increasing interconnection of power systems through AC and DC links enables energy storage units to access multiple electricity markets yet most existing arbitrage models remain limited to singlemarket participation This gap restricts…
Within the last few years, the trend towards more distributed, renewable energy sources has led to major changes and challenges in the electricity sector. To ensure a stable electricity distribution in this changing environment, we propose…
As the penetration of variable renewable powergeneration increases in power systems around the world, systemsecurity is challenged. Ensuring that enough reserve capacity isavailable to balance the increased forecast errors introduced bywind…
Online decision-making in the presence of uncertain future information is abundant in many problem domains. In the critical problem of energy generation scheduling for microgrids, one needs to decide when to switch energy supply between a…
We consider using a battery storage system simultaneously for peak shaving and frequency regulation through a joint optimization framework which captures battery degradation, operational constraints and uncertainties in customer load and…
Multi-period portfolio optimization is important for real portfolio management, as it accounts for transaction costs, path-dependent risks, and the intertemporal structure of trading decisions that single-period models cannot capture.…
An investor has to carefully select the location and size of new generation units it intends to build, since adding capacity in a market affects the profit from units this investor may already own. To capture this closed-loop…
Battery Energy Storage Systems (BESS) can mitigate effects of intermittent energy production from renewable energy sources and play a critical role in peak shaving and demand charge management. To optimally size the BESS from an economic…
Combining revenue streams by providing multiple services with battery storage systems increases profitability and enhances the investment case. In this work, we present a novel optimisation and control framework that enables a storage…