Related papers: Insurance Contract for High Renewable Energy Integ…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads -- i.e., loads minus renewable outputs…
Off-grid microgrids powered entirely by renewable energy sources face substantial challenges in achieving utility-grade reliability standards. Existing microgrid planning frameworks often prioritize cost minimization while treating…
In the electricity grid, networked sensors which record and transmit increasingly high-granularity data are being deployed. In such a setting, privacy concerns are a natural consideration. We present an attack model for privacy breaches,…
Several research studies have shown that future sustainable electricity systems, mostly based on renewable generation and storage, are feasible with current technologies and costs. However, recent episodes of extreme weather conditions,…
The increasing penetration of Renewable Energy Sources (RES) requires more Flexibility Resources (FR), generally thermal units and storages, must be kept in the system to accommodate the uncertainties from RES. The challenge is how the…
Renewable energy brings huge uncertainties to the power system, which challenges the traditional power system operation with limited flexible resources. One promising solution is to introduce dynamic pricing to more consumers, which, if…
High shares of variable renewable energy necessitate substantial energy storage capacity. However, it remains unclear how to design a market that, on the one hand, ensures a stable and sufficient income for storage firms, and, on the other…
In an isolated power grid or a micro-grid with a small carbon footprint, the penetration of renewable energy is usually high. In such power grids, energy storage is important to guarantee an uninterrupted and stable power supply for end…
We consider the performance modeling and evaluation of network systems powered with renewable energy sources such as solar and wind energy. Such energy sources largely depend on environmental conditions, which are hard to predict…
As the share of renewable energy sources in the present electric energy mix rises, their intermittence proves to be the biggest challenge to carbon free electricity generation. To address this challenge, we propose an electricity pricing…
As climate change increases the risk of large-scale wildfires, wildfire ignitions from electric power lines are a growing concern. To mitigate the wildfire ignition risk, many electric utilities de-energize power lines to prevent electric…
With more renewable energy sources (RES) integrated into the power system, the intermittency of RES places a heavy burden on the system. The uncertainty of RES is traditionally handled by controllable generators to balance the real time…
The use of renewable energy sources is a major strategy to mitigate climate change. Yet Sinn (2017) argues that excessive electrical storage requirements limit the further expansion of variable wind and solar energy. We question, and alter,…
The smart grid with its two-way communication and bi-directional power layers is a cornerstone in the combat against global warming. It allows for the large scale adoption of distributed (individually-owned) renewable energy resources such…
This paper presents an automated peer-to-peer negotiation strategy for settling energy contracts among prosumers in a Residential Energy Cooperative considering heterogeneity prosumer preferences. The heterogeneity arises from prosumers'…
The financial viability of renewable energy projects is challenged by the variability and unpredictability of production due to weather fluctuations. This paper proposes a novel risk management framework combining parametric insurance and…
Energy and water systems are highly interconnected. Energy is required to extract, transmit, and treat water and wastewater, and water is needed for cooling energy systems. There is a rapid increase in demand for energy and water due to…
For a large (and recently increasing) number of households, affordability is a major hurdle in accessing sufficient electricity and avoiding service disconnections. For such households, in-home energy rationing, i.e. the need to actively…
In this paper, we consider the problem of optimal reinsurance design, when the risk is measured by a distortion risk measure and the premium is given by a distortion risk premium. First, we show how the optimal reinsurance design for the…