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Large scale electricity storage is set to play an increasingly important role in the management of future energy networks. A major aspect of the economics of such projects is captured in arbitrage, i.e. buying electricity when it is cheap…
Energy storage technologies are of great practical importance in electrical grids where renewable energy sources are becoming a significant component in the energy generation mix. Here, we focus on some of the basic properties of flywheel…
Hydroelectric power (hydropower) is unique in that it can function as both a conventional source of electricity and as backup storage (pumped hydroelectric storage) for providing energy in times of high demand on the grid. This study…
The high variability of renewable energy resources presents significant challenges to the operation of the electric power grid. Conventional generators can be used to mitigate this variability but are costly to operate and produce carbon…
The presence of behind-the-meter rooftop photovoltaics and storage in the residential sector is poised to increase significantly. Here we quantify in detail the value of these technologies to consumers and service providers. We characterize…
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…
This paper presents an approach to assess the economics of customer-sited energy storage systems (ESSs) which are owned and operated by a customer. The ESSs can participate in frequency regulation and spinning reserve markets, and are used…
Most power systems are increasingly based on distributed energy resources, leading to a strong impact on the electrical grid management. In the case of Portugal, the contribution of renewable energy sources to the electricity generation…
In the context of energy market clearing, non-merchant assets are assets that do not submit bids but whose operational constraints are included. Integrating energy storage systems as non-merchant assets can maximize social welfare. However,…
Scheduling the power exchange between a population of heterogeneous distributed energy resources and the corresponding upper-level system is an important control problem in power systems. A key challenge is the large number of (partially…
There is an intrinsic value in higher integration of multi-carrier energy systems (especially gas and electricity), to increase operational flexibility in the electricity system and to improve allocation of resources in gas and electricity…
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 this report, several control strategies for microgrids with renewable energy resources and battery energy storage systems are proposed. Renewable energy has the potential to reduce global carbon emissions, while higher penetration of…
Large scale renewable energy integration is being planned for multiple power grids around the world. To achieve secure and stable grid operations, additional resources/reserves are needed to mitigate the inherent intermittency of renewable…
With the fast growth of wind power penetration, power systems need additional flexibility to cope with wind power ramping. Several electricity markets have established requirements for flexible ramping capacity (FRC) reserves. This paper…
The climate-driven uncertainty of renewable generation and electricity demand challenges energy security in net-zero energy systems. By introducing a scalable stochastic model that implicitly accounts for 51'840 climate years, this paper…
Long-duration energy storage (LDES) faces significant revenue volatility that impedes investment. This paper evaluates four contract-based support mechanisms using an equilibrium model with risk-averse investors and incomplete risk markets.…
Renewable energy sources (RES) has gained significant interest in recent years. However, due to favourable weather conditions, the RES is installed in remote locations with limited transmission capacity. As a result, it can lead to major…
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…
In this paper, we propose a system of bidirectional power routing for inter-house multi-energy management systems that utilize electricity and hydrogen as energy carriers. The key is to share private facilities such as photovoltaic panels…