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The evolution of smart microgrid and its demand-response characteristics not only will change the paradigms of the century-old electric grid but also will shape the electricity market. In this new market scenario, once always energy…
In the field of microgrids with a significant integration of Renewable Energy Sources, the efficient and practical power storage systems requirement is causing DC microgrids to gain increasing attention. However, uncertainties in power…
Although electric power networks and district heating networks are physically coupled, they are not operated in a coordinated manner. With increasing penetration of renewable energy sources, a coordinated market-based operation of the two…
The integration of renewables gradually replaces the traditional power plants, and this makes that the rotational inertia provided by the power plants is decreasing with time. Virtual inertia emulated by power electronic devices is becoming…
Recently, the volatility associated with marginal prices has increased due to large scale integration of renewable generation. Price volatility is undesirable from a consumer perspective. To address this issue, we present a framework for…
This paper proposes a dynamic valuation framework to determine the opportunity value of battery capacity degradation in grid applications based on the internal degradation mechanism and utilization scenarios. The proposed framework follows…
Prospective power supply systems based on Renewable Energy Sources require measures to balance power generation and load at all times. The utilisation of storage devices and backup power plants is widely suggested for this purpose, whereas…
The rapid growth of variable renewable energy has increased the need for flexible and efficiently coordinated energy resources. In this context, hybrid resources that combine renewable generation and battery storage within a single…
The energy market, and specifically the renewable sector carries volatility and risks, similar to the financial market. Here, we leverage on a well-established, return-risk approach, commonly used by equity portfolio-managers and apply it…
The large integration of variable energy resources is expected to shift a large part of the energy exchanges closer to real-time, where more accurate forecasts are available. In this context, the short-term electricity markets and in…
In commodity markets the convergence of futures towards spot prices, at the expiration of the contract, is usually justified by no-arbitrage arguments. In this article, we propose an alternative approach that relies on the expected profit…
Efforts to utilize 100% renewable energy in community microgrids require new approaches to energy markets and transactions to efficiently address periods of scarce energy supply. In this paper we contribute to the promising approach of…
This work presents a methodology for forward electricity contract price projection based on market equilibrium and social welfare optimization. In the methodology supply and demand for forward contracts are produced in such a way that each…
The increase of renewables in the grid and the volatility of the load create uncertainties in the day-ahead prices of electricity markets. Adaptive robust optimization (ARO) and stochastic optimization have been used to make commitment and…
High penetration of renewable generation in the electricity grid presents power system operators with challenges including voltage instability mainly due to fluctuating power generation. To cope with intermittent generation, community…
Energy storage can be used for many applications in the Smart Grid such as energy arbitrage, peak demand shaving, power factor correction, energy backup to name a few, and can play a major role at increasing the capacity of power networks…
Battery Energy Storage Systems (BESS) are a cornerstone of the energy transition, as their ability to shift electricity across time enables both grid stability and the integration of renewable generation. This paper investigates the…
We study how high charging rate demands from electric vehicles (EVs) in a power distribution grid may collectively cause poor dynamic performance, and propose a price incentivization strategy to steer customers to settle for lesser charging…
While wind and solar power contribute to sustainability, their intermittent nature poses challenges when integrated into the grid. To mitigate these issues, renewable energy can be combined with coal fired power and hydropower sources to…
As the "smart grid" paradigm becomes more prevalent, fundamental techno-economic challenges prominently arise. The variability of renewables may require conventional generators to remain active and operate inefficiently. The grid's inertia…