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Appropriately designed renewable support policies can play a leading role in promoting renewable expansions and contribute to low emission goals. Meanwhile, ill-designed policies may distort electricity markets, put power utilities and…
We investigate group formations and strategic behaviors of renewable power producers in electricity markets. These producers currently bid into the day-ahead market in a conservative fashion because of the real-time risk associated with not…
Renewable energy resources are widely available, yet they are unevenly distributed globally. In a renewable future, countries lacking high-quality renewable resources may choose to import energy from other countries. To assess the…
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…
Renewable energy sources (RES) are among the most popular emerging energy resources during the past two decades. Many countries have introduced various energy policy instruments, such as renewable energy certificates (RECs), to support the…
Renewable Energy Sources play a key role in smart energy systems. To achieve 100% renewable energy, utilizing the flexibility potential on the demand side becomes the cost-efficient option to balance the grid. However, it is not trivial to…
Ambitious renewable portfolio standards motivate the incorporation of energy storage resources (ESR) as sources of flexibility. While the United States government aims to promote ESR participation in electricity markets, work on market…
Abstract: The rising global temperatures caused by climate change significantly impact energy consumption and electricity generation. Fluctuating temperatures and frequent extreme weather events disrupt energy production and consumption…
This study investigates the economic and reliability benefits of improved offshore wind forecasting for grid operations along the U.S. East Coast. We introduce and evaluate a state-of-the-art, machine-learning-based offshore wind…
Renewable power sources have low marginal pro-duction costs, but may result in high balancing costs due to the inherent production uncertainty. Current day-ahead markets elicit only point production profiles and neglect the degree of…
We consider a continuous-time market with proportional transaction costs. Under appropriate assumptions we prove the existence of optimal strategies for investors who maximize their worst-case utility over a class of possible models. We…
Charging electric vehicles (EVs) with renewable energy can lessen their environmental impact. However, the fluctuating availability of renewable energy affects the sustainability of public EV charging stations. Nearby public charging…
This work introduces a decentralized mechanism for the fair and efficient allocation of limited renewable energy sources among consumers in an energy community. In the proposed non-cooperative game, the self-interested community members…
Integrating volatile renewable energy resources into the bulk power grid is challenging, due to the reliability requirement that at each instant the load and generation in the system remain balanced. In this study, we tackle this challenge…
Risk-sensitive planning aims to identify policies maximizing some tail-focused metrics in Markov Decision Processes (MDPs). Such an optimization task can be very costly for the most widely used and interpretable metrics such as threshold…
Traditional competitive markets do not account for negative externalities; indirect costs that some participants impose on others, such as the cost of over-appropriating a common-pool resource (which diminishes future stock, and thus…
Resource adequacy studies typically use standard metrics such as Loss of Load Expectation and Expected Energy Unserved to quantify the risk of supply shortfalls. This paper critiques present approaches to adequacy assessment and capacity…
Incentivizing flexible consumption of end-users is key to maximizing the value of local exchanges within Renewable Energy Communities. If centralized coordination for flexible resources planning raises concerns regarding data privacy and…
Energy management decreases energy expenditures and consumption while simultaneously increasing energy efficiency, reducing carbon emissions, and enhancing operational performance. Smart grids are a type of sophisticated energy…
Intermittent renewable energies are increasingly dominating electricity grids and are forecasted to be the main force driving out fossil fuels from the grid in most major economies until 2040. However, grids based on intermittent renewables…