Related papers: Dynamic Reserves for Managing Wind Power
Smart metering infrastructure allows for two-way communication and power transfer. Based on this promising technology, we propose a demand-side management (DSM) scheme for a residential neighbourhood of prosumers. Its core is a discrete…
Wind farms are an indispensable driver toward renewable and nonpolluting energy resources. However, as ideal sites are limited, placement in remote and challenging locations results in higher logistics costs and lower average wind speeds.…
This paper presents a method to better integrate dynamic models for renewable resources into synthetic electric grids. An automated dynamic models assignment process is proposed for wind and solar generators. A realistic composition ratio…
Recent years have seen an unprecedented growth in the use of sensor data to guide wind farm operations and maintenance. Emerging sensor-driven approaches typically focus on optimal maintenance procedures for single turbine systems, or model…
This paper develops a feature-driven model for hybrid power plants, enabling them to exploit available contextual information such as historical forecasts of wind power, and make optimal wind power and hydrogen trading decisions in the…
We consider some crucial problems related to the secure and reliable operation of power systems with high renewable penetrations: how much reserve should we procure, how should reserve resources distribute among different locations, and how…
There is growing interest in the use of grid-level storage to smooth variations in supply that are likely to arise with increased use of wind and solar energy. Energy arbitrage, the process of buying, storing, and selling electricity to…
As the penetration of distributed energy resources (DERs) increases, harnessing their flexibility becomes critical for power system operations. Virtual power plants (VPPs) offer a promising solution. However, most existing scheduling tools…
From an economic point of view, a common criterion for assessing the merits of a reserve investment is its impacts on social welfare. The underlying assumption in using this criterion is that side payments may be used to distribute the…
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…
This paper presents a dynamic pricing and energy management framework for electric vehicle (EV) charging service providers. To set the charging prices, the service providers faces three uncertainties: the volatility of wholesale electricity…
As wind power penetration increases, the wind farms are required by newly released grid codes to provide frequency regulation service. The most critical challenge is how to formulate the dynamic model of wind farm for dynamic control, since…
The energetic flexibility of electric energy resources can be exploited when trading on wholesale energy and ancillary service markets. This paper considers the problem of a Balance Responsible Party to maximize its profit from trading on…
A large part of the operational cost for a wind power farm is due to the cost of equipment maintenance, especially for offshore wind farms. How to reduce the maintenance cost, and hence increase profitability, is this article's focus. It…
The volatile nature of wind power generation creates challenges in achieving secure power grid operations. It is, therefore, necessary to make accurate wind power prediction and its uncertainty quantification. Wind power forecasting usually…
We consider an energy storage problem involving a wind farm with a forecasted power output, a stochastic load, an energy storage device, and a connection to the larger power grid with stochastic prices. Electricity prices and wind power…
This paper introduces a dynamic minimum variance portfolio (MVP) model using nonlinear volatility dynamic models, based on high-frequency financial data. Specifically, we impose an autoregressive dynamic structure on MVP processes, which…
In this paper we formulate an optimization approach to schedule electrical loads given a short term prediction of time-varying power production and the ability to store only a limited amount of electrical energy. The proposed approach is…
This study introduces a dynamic investment framework to enhance portfolio management in volatile markets, offering clear advantages over traditional static strategies. Evaluates four conventional approaches : equal weighted, minimum…
In this paper, we propose a high-level Stochastic steady-state model to analyze the value of co-located energy storage systems for wind power producers that participate in an electricity market through Forward or Day Ahead contracts. In…