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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…

General Economics · Economics 2026-04-01 Julian Geis , Fabian Neumann , Michael Lindner , Philipp Härtel , Tom Brown

Grid energy storage can help to balance supply and demand, but its financial viability and operational carbon emissions impact is poorly understood because of the complexity of grid constraints and market outcomes. We analyse the impact of…

Systems and Control · Electrical Eng. & Systems 2024-10-11 Seyyed Mostafa Nosratabadi , Iacopo Savelli , Volkan Kumtepeli , Phil Grunewald , Marko Aunedi , David A. Howey , Thomas Morstyn

Integrating the gas and district heating with the electrical grid in a multi-energy grid has been shown to provide flexibility and prevent bottlenecks in the operation of electrical distribution grids. This integration assumes a top-down…

Systems and Control · Electrical Eng. & Systems 2024-11-28 Marwan Mostafa , Davood Babazadeh , Christian Becker

Space and water heating accounts for about 40% of final energy consumption in the European Union and thus plays a key role in reducing overall costs and greenhouse gas emissions. Many scenarios to reach net-zero emissions in buildings rely…

Physics and Society · Physics 2021-06-08 Elisabeth Zeyen , Veit Hagenmeyer , Tom Brown

This work introduces a model of Future Technology Transformations for the power sector (FTT:Power), a representation of global power systems based on market competition, induced technological change (ITC) and natural resource use and…

Dynamical Systems · Mathematics 2013-04-15 J. -F. Mercure

The wide public sees solar energy as the future of mankind, and media channels quite oftenly states that our challenge is to improve efficiencies and reduce cost. However, one may point some unconvenient truth's about the physical limits we…

Physics and Society · Physics 2018-02-05 Marcos Paulo Belançon

Decarbonizing electric grids is a crucial global endeavor in the pursuit of carbon neutrality. Taking carbon emissions from generation into account when pricing electricity usage is an essential way to achieve this goal. However, such…

Optimization and Control · Mathematics 2024-04-19 Yue Chen , Changhong Zhao

As the concern about climate change and energy shortage grow stronger, the incorporation of renewable energy in the power system in the future is foreseeable. In a hybrid power system with a large penetration of PV generation, PV panel is…

Systems and Control · Electrical Eng. & Systems 2021-08-10 Songyao Jiang , Takeyoshi Kato

The purpose of this paper is to explore the applications of quantum computing to energy systems optimization problems and discuss some of the challenges faced by quantum computers with techniques to overcome them. The basic concepts…

Quantum Physics · Physics 2020-03-03 Akshay Ajagekar , Fengqi You

Current decarbonization efforts are falling short of meeting the net-zero greenhouse gas (GHG) emission target, highlighting the need for substantial carbon dioxide removal methods such as direct air capture (DAC). However, integrating DACs…

Systems and Control · Electrical Eng. & Systems 2026-05-12 Zhiyuan Fan , Elizabeth Dentzer , James Glynn , David S. Goldberg , Julio Friedmann , Bolun Xu

The development of distributed energy resources, such as rooftop photovoltaic (PV) panels, batteries, and electric vehicles (EVs), has decentralized our power system operation, where transactive energy markets empower local energy…

Systems and Control · Electrical Eng. & Systems 2022-06-29 Yue Chen , Yu Yang , Xiaoyuan Xu

Cloud computing has become a critical infrastructure for modern society, like electric power grids and roads. As the backbone of the modern economy, it offers subscription-based computing services anytime, anywhere, on a pay-as-you-go…

Distributed, Parallel, and Cluster Computing · Computer Science 2023-07-21 Rajkumar Buyya , Shashikant Ilager , Patricia Arroba

There exist two formulations for quantum heat engine that models an energy transfer between two microscopic systems. One is semi-classical scenario, and the other is full quantum scenario. The former is formulated as a unitary evolution for…

Quantum Physics · Physics 2017-04-05 Masahito Hayashi , Hiroyasu Tajima

Peer-to-peer (P2P) energy trading and energy communities have garnered much attention over in recent years due to increasing investments in local energy generation and storage assets. However, the efficiency to be gained from P2P trading,…

Systems and Control · Electrical Eng. & Systems 2023-11-21 Ying Zhang , Valentin Robu , Sho Cremers , Sonam Norbu , Benoit Couraud , Merlinda Andoni , David Flynn , H. Vincent Poor

Traditional smart grid energy auctions cannot directly be integrated in blockchain due to its decentralized nature. Therefore, research works are being carried out to propose efficient decentralized auctions for energy trading. Since,…

Cryptography and Security · Computer Science 2021-06-29 Muneeb Ul Hassan , Mubashir Husain Rehmani , Jinjun Chen

The balancing provided by hydropower reservoirs is essential in the transition towards a decarbonised European energy system, but the resource might be impacted by future climate change. In this work, we first analyse the hydropower…

Atmospheric and Oceanic Physics · Physics 2021-09-07 Ebbe Kyhl Gøtske , Marta Victoria

The finiteness of fossil fuels implies that future electric power systems may predominantly source energy from fuel-free renewable resources like wind and solar. Evidently, these power systems without fuel will be environmentally benign,…

Systems and Control · Computer Science 2015-06-17 Joshua Adam Taylor , Sairaj V. Dhople , Duncan S. Callaway

The challenge in solar energy today is not the cost of photovoltaic (PV) electricity generation, already competing with fossil fuel prices, but rather utility-scale energy storage and flexibility in supply. Low-cost thermal energy storage…

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…

Trading and Market Microstructure · Quantitative Finance 2023-01-30 Thibaut Théate , Antonio Sutera , Damien Ernst

Power-to-X (P2X) needs to scale up rapidly to provide the fuels required in the hard-to-decarbonize industrial and heavy transport sector. Only recently, the European Commission proposed requirements for \textit{renewable} fuels. P2X energy…

Physics and Society · Physics 2023-09-25 Ioannis Kountouris , Lissy Langer , Rasmus Bramstoft , Marie Münster , Dogan Keles