Related papers: Multi-Region Optimal Energy Storage Arbitrage
Dispatch of a grid energy storage system for arbitrage is typically formulated into a rolling-horizon optimization problem that includes a battery aging model within the cost function. Quantifying degradation as a depreciation cost in the…
The adoption of electric vehicles (EVs), including electric taxis and buses, as a mode of transportation, is rapidly increasing in cities. In addition to providing economic and environmental benefits, these fleets can potentially…
Energy storage can facilitate the integration of renewable energy resources by providing arbitrage and ancillary services. Jointly optimizing energy and ancillary services in a centralized electricity market reduces the system's operating…
Energy storage and demand-side response will play an increasingly important role in the future electricity system. We extend previous results on a single energy storage unit to the management of two energy storage units cooperating for the…
The increasing integration of renewable energy sources and distributed energy resources (DER) into modern power systems introduces significant uncertainty, posing challenges for maintaining grid flexibility and reliability. Hybrid energy…
This paper applies computational techniques of convex stochastic optimization to optimal operation and valuation of electricity storages in the face of uncertain electricity prices. Our valuations are based on the indifference pricing…
The large integration of variable energy resources is expected to shift a large part of the energy exchanges closer to real-time, where more accurate forecasts are available. In this context, the short-term electricity markets and in…
This paper presents a framework for simultaneous bidding and pricing strategy for wholesale market participation of electric vehicle (EV) charging stations aggregator. The proposed framework incorporates the EV charging stations' technical…
The rising share of volatile renewable generation increases the demand for flexibility in the electricity grid. Flexible capacity can be offered by industrial energy systems through participation on either the continuous intraday,…
Battery Energy Storage Systems (BESS) can mitigate effects of intermittent energy production from renewable energy sources and play a critical role in peak shaving and demand charge management. To optimally size the BESS from an economic…
Recent studies show that the fast growing expansion of wind power generation may lead to extremely high levels of price volatility in wholesale electricity markets. Storage technologies, regardless of their specific forms e.g. pump-storage…
Within the context of renewable energy communities, this paper focuses on optimal operation of producers equipped with energy storage systems in the presence of demand response. A novel strategy for optimal scheduling of the storage systems…
This work is concerned with the application of game theoretic principles to model competition between demand response aggregators for selling excess energy stored in electrochemical storage devices directly to other aggregators in a power…
We consider the problem of co-optimized energy-reserve market clearing with state-of-charge (SoC) dependent bids from battery storage participants. While SoC-dependent bids capture storage's degradation and opportunity costs, such bids…
This paper introduces a deep reinforcement learning (RL) framework for optimizing the operations of power plants pairing renewable energy with storage. The objective is to maximize revenue from energy markets while minimizing storage…
Industrial electricity consumers with flexible demand can profit by adjusting their load to short-term prices and by providing balancing services to the grid. Markets which support this kind of short-term position adjustment are the…
The smart grid with its two-way communication and bi-directional power layers is a cornerstone in the combat against global warming. It allows for the large scale adoption of distributed (individually-owned) renewable energy resources such…
We address the problem of load shaping within a network of coupled microgrids (MGs) in a bilevel optimisation framework. To this end, we consider the charging/discharging rates of residential energy storage devices within each MG on the…
In this paper, we propose to model the energy consumption of smart grid households with energy storage systems as an intertemporal trading economy. Intertemporal trade refers to transaction of goods across time when an agent, at any time,…
The rapid uptake of renewable energy sources in the electricity grid leads to a demand in load shaping and flexibility. Energy storage devices such as batteries are a key element to provide solutions to these tasks. However, typically a…