Related papers: Predicting Strategic Energy Storage Behaviors
Demand-side management (DSM) enables distribution system operators (DSOs) to steer electricity consumption through dynamic price signals or incentive mechanisms, thereby leveraging end-users' flexibility potential for delivering grid…
This paper presents a novel non-stationary dynamic pricing algorithm design, where pricing agents face incomplete demand information and market environment shifts. The agents run price experiments to learn about each product's demand curve…
To meet widely recognised carbon neutrality targets, over the last decade metropolitan regions around the world have implemented policies to promote the generation and use of sustainable energy. Nevertheless, there is an availability gap in…
This study examines the economic impact of post-hoc uncertainty discounting in predictive energy management, specifically in battery energy arbitrage. A 2.2 MWh, 1.1 MW Tesla battery, emulating operations at the University of Queensland's…
Energy storage (ES) can help decarbonize power systems by transferring green renewable energy across time. How to unlock the potential of ES in cutting carbon emissions by appropriate market incentives has become a crucial, albeit…
Imbalance (on-line energy gap between contracted supply and actual demand, and associated cost) reduction is going to be a crucial service for a Power Producer and Supplier (PPS) in the deregulated energy market. PPS requires forward market…
We consider a sequential decision making process, such as renewable energy trading or electrical production scheduling, whose outcome depends on the future realization of a random factor, such as a meteorological variable. We assume that…
Prediction of stock prices plays a significant role in aiding the decision-making of investors. Considering its importance, a growing literature has emerged trying to forecast stock prices with improved accuracy. In this study, we introduce…
Demand-side management presents significant benefits in reducing the energy load in smart grids by balancing consumption demands or including energy generation and/or storage devices in the user's side. These techniques coordinate the…
This paper proposes a new convex model predictive control strategy for dynamic optimal power flow between battery energy storage systems distributed in an AC microgrid. The proposed control strategy uses a new problem formulation, based on…
Energy prediction in buildings plays a crucial role in effective energy management. Precise predictions are essential for achieving optimal energy consumption and distribution within the grid. This paper introduces a Long Short-Term Memory…
This paper introduces a model for coordinating prosumers with heterogeneous distributed energy resources (DERs), participating in the local energy market (LEM) that interacts with the market-clearing entity. The proposed LEM scheme utilizes…
The participation of consumers and producers in demand response programs has increased in smart grids, which reduces investment and operation costs of power systems. Also, with the advent of renewable energy sources, the electricity market…
Energy storage systems (ESS) are pivotal component in the energy market, serving as both energy suppliers and consumers. ESS operators can reap benefits from energy arbitrage by optimizing operations of storage equipment. To further enhance…
Energy arbitrage is one of the most profitable sources of income for battery operators, generating revenues by buying and selling electricity at different prices. Forecasting these revenues is challenging due to the inherent uncertainty of…
This paper studies the problem of maximizing revenue from a grid-scale battery energy storage system, accounting for uncertain future electricity prices and the effect of degradation on battery lifetime. We formulate this task as an online…
The proposed distributed dynamic clustering algorithm enables to group agents based on their pre-selected feature states. The clusters are determined by comparing the distance of the agents' current feature states with average estimates of…
We present a methodology for determining the relationship between the optimal control points of a power storage facility and a number of different factors including storage level and temperature. The interaction between different factors is…
Sharing economy is a transformative socio-economic phenomenon built around the idea of sharing underused resources and services, e.g. transportation and housing, thereby reducing costs and extracting value. Anticipating continued reduction…
Future electricity distribution grids will host a considerable share of the renewable energy sources needed for enforcing the energy transition. Demand side management mechanisms play a key role in the integration of such renewable energy…