Related papers: Tulipa Energy Model: Mathematical Formulation
Electric utilities must make massive capital investments in the coming years to respond to explosive growth in demand, aging assets and rising threats from extreme weather. Utilities today already have rigorous frameworks for capital…
This paper studies the applicability of peer-to-peer (P2P) energy trading in a grid-tied network. The main objectives are to understand the impact of the financial P2P energy trading on the network operation, and thus demonstrate the…
This paper proposes an optimal strategy for a Renewable Energy Community participating in the Italian pay-as-bid ancillary service market. The community is composed by a group of residential customers sharing a common facility equipped with…
Statistical mechanics provides a useful analog for understanding the behavior of complex adaptive systems, including electric power markets and the power systems they intend to govern. Market-based control is founded on the conjecture that…
Governments across the world are planning to increase the share of renewables in their energy systems. The siting of new wind and solar power plants requires close coordination with grid planning, and hence co-optimization of investment in…
Energy system models underpin decisions by energy system planners and operators. Energy system modelling faces a transformation: accounting for changing meteorological conditions imposed by climate change. To enable that transformation, a…
Given the rapid pace of energy system development, the time has come to reimagine the U.S. Government's capability to model the long-term evolution of the domestic and global energy system. As a primary custodian of these capabilities, the…
Electrical infrastructures provide services at the basis of a number of application sectors, several of which are critical from the perspective of human life, environment or financials. Following the increasing trend in electricity…
The mitigation of climate change requires a fundamental transition of the energy system. Affordability, reliability and the reduction of greenhouse gas emissions constitute central but often conflicting targets for this energy transition.…
We consider an optimal consumption/investment problem to maximize expected utility from consumption. In this market model, the investor is allowed to choose a portfolio which consists of one bond, one liquid risky asset (no transaction…
In this paper, we develop an agent-based model which integrates four important elements, i.e. organisational energy management policies/regulations, energy management technologies, electric appliances and equipment, and human behaviour,…
A convex formulation is proposed for optimal energy management in aircraft with hybrid propulsion systems consisting of gas turbine and electric motor components. By combining a point-mass aircraft dynamical model with models of electrical…
The energy transition is expected to significantly increase the share of renewable energy sources whose production is intermittent in the electricity mix. Apart from key benefits, this development has the major drawback of generating a…
This work presents a methodology for forward electricity contract price projection based on market equilibrium and social welfare optimization. In the methodology supply and demand for forward contracts are produced in such a way that each…
Data clustering is an instrumental tool in the area of energy resource management. One problem with conventional clustering is that it does not take the final use of the clustered data into account, which may lead to a very suboptimal use…
Monitoring, understanding, and optimizing the energy consumption of Machine Learning (ML) are various reasons why it is necessary to evaluate the energy usage of ML. However, there exists no universal tool that can answer this question for…
The electricity market, which was initially designed for dispatchable power plants and inflexible demand, is being increasingly challenged by new trends, such as the high penetration of intermittent renewables and the transformation of the…
We consider an agent who needs to buy (or sell) a relatively small amount of asset over some fixed short time interval. We work at the highest frequency meaning that we wish to find the optimal tactic to execute our quantity using limit…
In electricity markets, retailers or brokers want to maximize profits by allocating tariff profiles to end consumers. One of the objectives of such demand response management is to incentivize the consumers to adjust their consumption so…
In this paper, we investigate the constraint typology of mixed-integer linear programming MILP formulations. MILP is a commonly used mathematical programming technique for modelling and solving real-life scheduling, routing, planning,…