Related papers: Beyond Price-Taker: Multiscale Optimization of Win…
The use of renewable energy sources is a major strategy to mitigate climate change. Yet Sinn (2017) argues that excessive electrical storage requirements limit the further expansion of variable wind and solar energy. We question, and alter,…
Decarbonization of isolated or off-grid energy systems through phase-in of large shares of intermittent solar or wind generation requires co-installation of energy storage or continued use of existing fossil dispatchable power sources to…
Electricity market operators worldwide use mixed-integer linear programming to solve the allocation problem in wholesale electricity markets. Prices are typically determined based on the duals of relaxed versions of this optimization…
High shares of variable renewable energy necessitate substantial energy storage capacity. However, it remains unclear how to design a market that, on the one hand, ensures a stable and sufficient income for storage firms, and, on the other…
Electricity storage is crucial for power systems to achieve higher levels of renewable energy penetration. This is especially significant for non-interconnected island (NII) systems, which are electrically isolated and vulnerable to the…
To reach ambitious European CO$_2$ emission reduction targets, most scenarios of future European electricity systems rely on large shares of wind and solar photovoltaic power generation. We interpolate between two concepts for balancing the…
Predict+Optimize frameworks integrate forecasting and optimization to address real-world challenges such as renewable energy scheduling, where variability and uncertainty are critical factors. This paper benchmarks solutions from the…
Investments into renewable energy are increasing rapidly around the world. Energy system models are able to provide insights into optimal investment capacities and thus are widely used to aid the long-term investment decision-making under…
The Intergovernmental Panel on Climate Change proposes different mitigation strategies to achieve the net emissions reductions that would be required to follow a pathway that limits global warming to 1.5{\deg}C with no or limited overshoot.…
In an attempt to improve the utilization efficiency of multi-energy coupling in park-level integrated energy system (PIES), promote wind power consumption and reduce carbon emissions, a low-carbon economic operation optimization model of…
While the use of energy storage combined with grid-scale photovoltaic power plants continues to grow, given current lithium-ion battery prices, there remains uncertainty about the profitability of these solar-plus-storage projects. At the…
The use of energy storage to balance electric grids is increasing and, with it, the importance of operational optimisation from the twin viewpoints of cost and system stability. In this paper we assess the real option value of balancing…
The deployment of renewable energy technologies supposes the connection to the power grid of many new, distributed, and variable electricity production facilities. Among the investments deeply needed for a successful shift to clean energy,…
This paper proposes a bi-level optimization framework to investigate the optimal market operation strategies of price-maker battery energy storage systems (BESSs) in real-time energy, spinning reserve, and pay as performance regulation…
The future power system is increasingly interconnected via both AC and DC interconnectors. These interconnectors establish links between previously decoupled energy markets. In this paper, we propose an optimal multi-market energy storage…
Long-duration energy storage (LDES) is a key component for fully renewable, sector-coupled energy systems based on wind and solar. While capacity expansion planning has begun to take into account interannual weather variability, it often…
Energy storage and electrification of buildings hold great potential for future decarbonized energy systems. However, there are several technical and economic barriers that prevent large-scale adoption and integration of energy storage in…
This paper studies the problem of stochastic dynamic pricing and energy management policy for electric vehicle (EV) charging service providers. In the presence of renewable energy integration and energy storage system, EV charging service…
Tackling climate change requires the rapid and deep decarbonization of electric power systems. While energy management systems (EMSs) play a central role in this transition, conventional EMSs focus mainly on economic efficiency and often…
As variable renewable energy increases and more demand is electrified, we expect price formation in wholesale electricity markets to transition from being dominated by fossil fuel generators to being dominated by the opportunity costs of…