Related papers: Strategic Investment in Energy Markets: A Multipar…
A power system unit commitment (UC) problem considering uncertainties of renewable energy sources is investigated in this paper, through a distributionally robust optimization approach. We assume that the first and second order moments of…
By modeling the uncertainty of spinning reserves provided by energy storage with probabilistic constraints, a new optimal scheduling mode is proposed for minimizing the operating costs of an isolated microgrid (MG) by using…
We present an algorithm for recovering planted solutions in two well-known models, the stochastic block model and planted constraint satisfaction problems, via a common generalization in terms of random bipartite graphs. Our algorithm…
In this paper, we propose networked microgrids to facilitate the integration of variable renewable generation and improve the economics and resiliency of electricity supply in microgrids. A new concept, probability of successful islanding…
We propose an algorithm to calculate the exact solution for utility optimization problems on finite state spaces under a class of non-differentiable preferences. We prove that optimal strategies must lie on a discrete grid in the plane, and…
Energy storage has exhibited great potential in providing flexibility in power system to meet critical peak demand and thus reduce the overall generation cost, which in turn stabilizes the electricity prices. In this work, we exploit the…
It is anticipated that large-scale energy storage facility (ESF) will become an essential part of the future energy markets to increase the penetration of renewables. In this paper, a new optimization algorithm is developed to participate…
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…
In this paper, we propose a theoretical framework for the joint optimization of investment and operation of a microgrid, taking the impact of energy storage, renewable energy integration, and demand response into consideration. We first…
With increasing renewable penetration in power systems, a prominent challenge in efficient and reliable power system operation is handling the uncertainties inherent in the renewable generation. In this paper, we propose a simple…
Achieving the economical and stable operation of Multi-microgrids (MMG) systems is vital. However, there are still some challenging problems to be solved. Firstly, from the perspective of stable operation, it is necessary to minimize the…
The development of smart grids has effectively transformed the traditional grid system. This promises numerous advantages for economic values and autonomous control of energy sources. In smart grids development, there are various objectives…
Bilevel programs with spatial price equilibrium constraints are strategic models that consider a price competition at the lower level. These models find application in facility location-price models, optimal bidding in power networks, and…
This paper studies finite-time optimal consumption-investment problems with power, logarithmic and exponential utilities, in a regime switching market with random coefficients, subject to coupled constraints on the consumption and…
In electrical distribution grids, the constantly increasing number of power generation devices based on renewables demands a transition from a centralized to a distributed generation paradigm. In fact, power injection from Distributed…
Microgrids are recognized as a relevant tool to absorb decentralized renewable energies in the energy mix. However, the sequential handling of multiple stochastic productions and demands, and of storage, make their management a delicate…
Large scale grid expansion planning studies are essential to rapidly and efficiently decarbonizing the electricity sector. These studies help policy makers and grid participants understand which renewable generation, storage, and…
Transitioning to renewable power generation is often difficult for remote or isolated communities, due to generation intermittency and high cost barriers. Our paper presents a simulation-based optimization approach for the design of policy…
We study an optimal consumption and investment problem in a possibly incomplete market with general, not necessarily convex, stochastic constraints. We give explicit solutions for investors with exponential, logarithmic and power utility.…
We consider multi-value expansion planning (MEP), a general bilevel optimization model in which a planner optimizes arbitrary functions of the dispatch outcome in the presence of a partially controllable, competitive electricity market. The…