Related papers: Time-of-use Pricing for Energy Storage Investment
Time-of-use (ToU) pricing is widely used by the electricity utility. A carefully designed ToU pricing can incentivize end-users' energy storage deployment, which helps shave the system peak load and reduce the system social cost. However,…
Users can arbitrage against Time-of-Use (ToU) pricing with storage by charging in off-peak period and discharge in peak periods. In this paper we design the optimal control policy and the solve optimal investment for general ToU scheme. We…
Sharing economy has disrupted many industries. We foresee that electricity storage systems could be the enabler for sharing economy in electricity sector, though its implementation is a delicate task. Unlike in the 2-tier Time-of-Use (ToU)…
Time-and-Level-of-Use (TLOU) is a recently proposed pricing policy for energy, extending Time-of-Use with the addition of a capacity that users can book for a given time frame, reducing their expected energy cost if they respect this…
The widespread use of industrial refrigeration systems across various sectors contribute significantly to global energy consumption, highlighting substantial opportunities for energy conservation through intelligent control design. As such,…
A central challenge in using price signals to coordinate the electricity consumption of a group of users is the operator's lack of knowledge of the users due to privacy concerns. In this paper, we develop a two-time-scale incentive…
The combined increase of energy demand and environmental pollution at a global scale is entailing a rethinking of the production models in sustainable terms. As a consequence, energy suppliers are starting to adopt strategies that flatten…
Time-of-Use (TOU) electricity pricing provides an opportunity for industrial users to cut electricity costs. Although many methods for Economic Load Dispatch (ELD) under TOU pricing in continuous industrial processing have been proposed,…
Sharing economy has become a socio-economic trend in transportation and housing sectors. It develops business models leveraging underutilized resources. Like those sectors, power grid is also becoming smarter with many flexible resources,…
We consider "time-of-use" pricing as a technique for matching supply and demand of temporal resources with the goal of maximizing social welfare. Relevant examples include energy, computing resources on a cloud computing platform, and…
Energy storage shifts energy from off-peak periods to on-peak periods. Unlike conventional generation, storage is duration-limited: the stored energy capacity constrains the duration over which it can supply power. To understand how these…
In this paper, we address an optimal management problem of community energy storage in the real-time electricity market under a stochastic renewable environment. In a real-time electricity market, complete market information may not be…
It is likely that electricity storage will play a significant role in the balancing of future energy systems. A major challenge is then that of how to assess the contribution of storage to capacity adequacy, i.e. to the ability of such…
Mobile users' correlated mobility and data consumption patterns often lead to severe cellular network congestion in peak hours and hot spots. This paper presents an optimal design of time and location aware mobile data pricing, which…
Energy storage can play an important role in energy management of end users. To promote an efficient utilization of energy storage, we develop a novel business model to enable virtual storage sharing among a group of users. Specifically, a…
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…
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…
We study the price impact of storage facilities in electricity markets and analyze the long-term profitability of these facilities in prospective scenarios of energy transition. To this end, we begin by characterizing the optimal operating…
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…
This paper presents an analytical method for calculating the operational value of an energy storage device under multi-stage price uncertainties. Our solution calculates the storage value function from price distribution functions directly…