Related papers: Tulipa Energy Model: Mathematical Formulation
We develop a clearance and settlement model for Peer-to-Peer (P2P) energy trading in low-voltage networks. The model enables direct transactions between parties within an open and distributed system and integrates unused capacity while…
Energy system optimization models (ESOMs) should be used in an interactive way to uncover knife-edge solutions, explore alternative system configurations, and suggest different ways to achieve policy objectives under conditions of deep…
The paper suggests a new stochastic model for energy producing, dispatching, and storing in the multi-battery setting that takes into account the topology of the system of the links between the batteries, the transmission and storage…
As renewable energy integration, sector coupling, and spatiotemporal detail increase, energy system optimization models grow in size and complexity, often pushing solvers to their performance limits. This systematic review explores…
Energy systems optimisation models are a leading tool for informing decisions in the energy transition. However, these models often remain opaque, and results are frequently presented without a clear discussion of their epistemic…
Linearized models of power systems are often desirable to formulate tractable control and optimization problems that still reflect real-world physics adequately under various operating conditions. In this paper, we propose an approach that…
In the large financial market, which is described by a model with countably many traded assets, we formulate the problem of the expected utility maximization. Assuming that the preferences of an economic agent are modeled with a stochastic…
This paper summarises the main multi-year investment modelling approaches in energy planning models. Therefore, here we will go from a simple (basic) formulation to a more complex (general) one to understand different levels of detail,…
Probabilistic forecasting in combination with stochastic programming is a key tool for handling the growing uncertainties in future energy systems. Derived from a general stochastic programming formulation for the optimal scheduling and…
In this paper, we propose an optimization-based mechanism to explain power law distributions, where the function that the optimization process is seeking to optimize is derived mathematically, then the behavior and interpretation of this…
Local electricity markets represent a way of supplementing traditional retailing contracts for end consumers -- among these markets, the renewable energy community has gained momentum over the last few years. This paper proposes a practical…
In the present work we tackle the problem of finding the optimal price tariff to be set by a risk-averse electric retailer participating in the pool and whose customers are price-sensitive. We assume that the retailer has access to a…
Power systems modeling and planning has long leveraged mathematical programming for its ability to provide optimality and feasibility guarantees. One feature that has been recognized in the optimization literature since the 1970s is the…
The rapid emergence of hydrogen in long-term energy strategies requires a broad understanding on how hydrogen is currently modelled in national energy system models. This study provides a review on hydrogen representation within selected…
We consider a popular model of microeconomics with countably many assets: the Arbitrage Pricing Model. We study the problem of optimal investment under an expected utility criterion and look for conditions ensuring the existence of optimal…
Decarbonizing the energy sector is one of the main challenges to combat the climate crisis. Cities play an important role to reach climate neutrality as more than 70% of global CO2 emissions originate from urban areas. Decarbonization of…
The paper proposes a computationally efficient electricity market simulation tool (MST) suitable for future grid scenario analysis. The market model is based on a unit commitment (UC) problem and takes into account the uptake of emerging…
In energy systems with high shares of weather-driven renewable power sources, gas-fired power plants can serve as a back-up technology to ensure security of supply and provide short-term flexibility. Therefore, a tighter coordination…
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, to…
There is a general need of elaborating energy-effective solutions for managing our increasingly dense interconnected world. The problem should be tackled in multiple dimensions -technology, society, economics, law, regulations, and…