Related papers: Cooperation and Competition among Energy Storages
We study how storage, operating as a price maker within a market environment, may be optimally operated over an extended period of time. The optimality criterion may be the maximisation of the profit of the storage itself, where this profit…
An important function of aggregators is to enable the participation of small energy storage units in electricity markets. This paper studies two generally overlooked aspects related to aggregators of energy storage: i) the relationship…
Sharing economy is a transformative socio-economic phenomenon built around the idea of sharing underused resources and services, e.g. transportation and housing, thereby reducing costs and extracting value. Anticipating continued reduction…
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…
Electric storage units constitute a key element in the emerging smart grid system. In this paper, the interactions and energy trading decisions of a number of geographically distributed storage units are studied using a novel framework…
This paper proposes a novel framework to price energy storage in economic dispatch with a social welfare maximization objective. This framework can be utilized by power system operators to generate default bids for storage or to benchmark…
Arbitrage is one important revenue source for energy storage in electricity markets. However, a large amount of storage in the market will impact the energy price and reduce potential revenues. This can lead to strategic behaviors of…
One of the most important challenges in smart grid systems is the integration of renewable energy resources into its design. In this work, two different techniques to mitigate the time varying and intermittent nature of renewable energy…
As the world seeks to transition to a sustainable energy future, energy storage technologies are increasingly recognized as critical enablers. However, the macro-energy system assessment of energy storage has often focused on isolated…
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…
We study collaborative learning systems in which the participants are competitors who will defect from the system if they lose revenue by collaborating. As such, we frame the system as a duopoly of competitive firms who are each engaged in…
Community electricity storage systems for multiple applications promise benefits over household electricity storage systems. More economical flexibility options such as demand response and sector coupling might reduce the market size for…
This paper proposes a novel method to generate bid bounds that can serve as offer caps for energy storage in electricity markets to help reduce system costs and regulate potential market power exercises. We derive the bid bounds based on a…
The integration of large shares of electricity produced by non-dispatchable Renewable Energy Sources (RES) leads to an increasingly volatile energy generation side, with temporary local overproduction. The application of energy storage…
This paper studies the duopoly competition between renewable energy suppliers with or without energy storage in a local energy market. The storage investment brings the benefits of stabilizing renewable energy suppliers' outputs, but it…
This paper studies an energy storage (ES) sharing model which is cooperatively invested by multiple buildings for harnessing on-site renewable utilization and grid price arbitrage. To maximize the economic benefits, we jointly consider the…
We study the coordination of actions and the allocation of profit in supply chains under decentralized control in which a single supplier supplies several retailers with goods for replenishment of stocks. The goal of the supplier and the…
Information-centric networking extensively uses universal in-network caching. However, developing an efficient and fair collaborative caching algorithm for selfish caches is still an open question. In addition, the communication overhead…
With the advent of prosumers, the traditional centralized operation may become impracticable due to computational burden, privacy concerns, and conflicting interests. In this paper, an energy sharing mechanism is proposed to accommodate…
This work seeks to quantify the benefits of using energy storage toward the reduction of the energy generation cost of a power system. A two-fold optimization framework is provided where the first optimization problem seeks to find the…