Related papers: A Conditional Value-at-Risk Based Planning Model f…
Renewable energy sources (RES) are close to grid parity compared with conventional generation. Therefore, it is important to consider proper costs to assess the economics instead of technological aspects only. While some scholars are in the…
Airborne Wind Energy Systems (AWES) have emerged as a promising renewable energy technology that exploits stronger, more consistent high-altitude winds via tethered airborne devices. Among the various concepts, crosswind systems, where…
We consider the combination of value-at-risk (VaR) and expected shortfall (ES) forecasts when a large pool of candidate forecasts is available. Given the limited literature in this area, we implement a variety of new combining methods. In…
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…
Green buildings (GBs) with renewable energy and building energy management systems (BEMS) enable efficient energy use and support sustainable development. Electric vehicles (EVs), as flexible storage resources, enhance system flexibility…
A new semi-parametric Expected Shortfall (ES) estimation and forecasting framework is proposed. The proposed approach is based on a two-step estimation procedure. The first step involves the estimation of Value-at-Risk (VaR) at different…
A real-coded genetic algorithm is used to schedule the charging of an energy storage system (ESS), operated in tandem with renewable power by an electricity consumer who is subject to time-of-use pricing and a demand charge. Simulations…
As urban transit systems transition towards electrification, using renewable energy sources (RES), such as solar, is essential to make them efficient and sustainable. However, the intermittent nature of renewables poses a challenge in…
Wind energy has been increasingly adopted to mitigate climate change. However, the variability of wind energy causes wind curtailment, resulting in considerable economic losses for wind farm owners. Wind curtailment can be reduced using…
This research proposes a framework for modeling and comparing two electricity scenarios for Nigeria by 2050, focusing on the inclusion and exclusion of electricity storage technologies. A Central Composite Design (CCD) was used to generate…
In this paper, we investigate the energy efficiency (EE) problem under reconfigurable intelligent surface (RIS)-aided secure cell-free networks, where multiple legitimate users and eavesdroppers (Eves) exist. We formulate a max-min secure…
Model predictive control (MPC)-based energy management systems (EMS) are essential for ensuring optimal, secure, and stable operation in microgrids with high penetrations of distributed energy resources. However, due to the high…
The rapid increase in renewable energy sources (RES) implementation in the power system creates more severe network congestion, which may reduce grid operation efficiency and cause renewable curtailment. Deterministic optimization for the…
In this paper, we develop novel mathematical models to optimize utilization of community energy storage (CES) by clustering prosumers and consumers into energy sharing communities/microgrids in the context of a smart city. Three different…
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…
The interaction between extreme weather events and interdependent critical infrastructure systems involves complex spatiotemporal dynamics. Multi-type emergency decisions within energy-transportation infrastructures significantly influence…
Aggregating distributed energy resources (DERs) is of great significance to improve the overall operational efficiency of smart grid. The aggregation model needs to consider various factors such as network constraints, operational…
The useful life of electrochemical energy storage (EES) is a critical factor to EES planning, operation, and economic assessment. Today, systems commonly assume a physical end-of-life criterion, retiring EES when the remaining capacity…
This paper presents analytical solutions to the problem of how to calculate sensible VaR (Value-at-Risk) and ES (Expected Shortfall) contributions in the CreditRisk+ methodology. Via the ES contributions, ES itself can be exactly computed…
Energy storage and electrification of buildings hold great potential for future decarbonized energy systems. However, there are several technical and economic barriers that prevent large-scale adoption and integration of energy storage in…