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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…
We propose the REORIENT (REnewable resOuRce Investment for the ENergy Transition) model for energy systems planning with the following novelties: (1) integrating capacity expansion, retrofit and abandonment planning, and (2) using…
In order to deal with market power that sporadically results from contingencies (e.g., severe weather, plant outages) most electricity markets have institutions in charge of monitoring market performance and mitigating market power. The…
This work introduces a model of Future Technology Transformations for the power sector (FTT:Power), a representation of global power systems based on market competition, induced technological change (ITC) and natural resource use and…
This paper proposes an agent-based model that combines both spot and balancing electricity markets. From this model, we develop a multi-agent simulation to study the integration of the consumers' flexibility into the system. Our study…
Global warming is endangering the earth's ecosystem. It is imperative for us to limit green house gas emissions in order to combat rising global average temperatures. One way to move forward is the integration of renewable energy resources…
With the integration of renewable sources in electricity distribution networks, the need to develop intelligent mechanisms for balancing the energy market has arisen. In the absence of such mechanisms, the energy market may face imbalances…
The transition to net-zero emissions in Europe is determined by a patchwork of country-level and EU-wide policy, creating coordination challenges in an interconnected system. We use an optimisation model to map out near-optimal energy…
This paper proposes a bi-level optimization framework to investigate the optimal market operation strategies of price-maker battery energy storage systems (BESSs) in real-time energy, spinning reserve, and pay as performance regulation…
This study investigates two models of varying complexity for optimizing intraday arbitrage energy trading of a battery energy storage system using a model predictive control approach. Scenarios reflecting different stages of the system's…
Distributed energy resources behind the meter and automation systems enable traditional electricity consumers to become prosumers (producers/consumers) that can participate in peer-to-peer exchange of electricity and in retail electricity…
Renewable sources are taking center stage in electricity generation. However, matching supply with demand in a renewable-rich system is a difficult task due to the intermittent nature of renewable resources (wind, solar, etc.). As a result,…
Electricity systems are key to transforming today's society into a carbon-free economy. Long-term electricity market mechanisms, including auctions, support schemes, and other policy instruments, are critical in shaping the electricity…
A rapid expansion of system flexibility is essential to integrate increasing shares of renewable energy into future energy systems. However, flexibility needs and technology-specific contributions to flexibility remain poorly quantified in…
To reach ambitious European CO$_2$ emission reduction targets, most scenarios of future European electricity systems rely on large shares of wind and solar photovoltaic power generation. We interpolate between two concepts for balancing the…
In recent years, the energy-water nexus literature has recognized that the electricity and water infrastructure that enable the production, distribution, and consumption of these two commodities is fundamentally intertwined. Electric power…
This article addresses the residential energy cost optimization problem in smart grid. To date, most of the previous research only consider a partial aspect of the cost optimization problem. As a result, they fail to analyze scenarios when…
The electricity market has a vital role to play in the decarbonisation of the energy system. However, the electricity market is made up of many different variables and data inputs. These variables and data inputs behave in sometimes…
This paper outlines a critical gap in the assessment methodology used to estimate the macroeconomic costs and benefits of climate policy. It shows that the vast majority of models used for assessing climate policy use assumptions about the…
The development of distributed energy resources, such as rooftop photovoltaic (PV) panels, batteries, and electric vehicles (EVs), has decentralized our power system operation, where transactive energy markets empower local energy…