Related papers: Multi-Region Optimal Energy Storage Arbitrage
The increasing penetration of renewable energy sources introduces significant challenges to power grid stability, primarily due to their inherent variability. A new opportunity for grid operation is the smart integration of electricity…
In this paper, to address backhaul capacity bottleneck and concurrently optimize energy consumption and delay, we formulate a novel weighted-sum multi-objective optimization problem where popular content caching placement and integrated…
This paper presents an analytical method for calculating the operational value of an energy storage device under multi-stage price uncertainties. Our solution calculates the storage value function from price distribution functions directly…
In this paper, multi-agent reinforcement learning is used to control a hybrid energy storage system working collaboratively to reduce the energy costs of a microgrid through maximising the value of renewable energy and trading. The agents…
The integration of renewable energy into the power grid is often hindered by its fragmented infrastructure, leading to inefficient utilization due to the variability of energy production and its reliance on weather conditions. Battery…
We consider joint energy storage management and load scheduling at a residential site with integrated renewable generation. Assuming unknown arbitrary dynamics of renewable source, loads, and electricity price, we aim at optimizing the load…
The demand response provides an opportunity for load serving entities (LSEs) that operate retail electricity markets (REMs) to strategically purchase energy and provide reserves in wholesale electricity markets (WEMs). This paper concerns…
Electric vehicle (EV) charging stations have experienced rapid growth, whose impacts on the power grid have become non-negligible. Though charging stations can install energy storage to reduce their impacts on the grid, the conventional…
Motivated by various benefits of multi-energy integration, this paper establishes a bi-level framework based on transactive control to realize energy optimization among multiple interconnected energy hubs (EHs). A storage-energy-equivalent…
Electric vehicles (EVs) are increasingly integrated into power grids, offering economic and environmental benefits but introducing challenges due to uncoordinated charging. This study addresses the profit maximization problem for multiple…
This paper studies the efficiency of battery storage operations in electricity markets by comparing the social welfare gain achieved by a central planner to that of a decentralized profit-maximizing operator. The problem is formulated in a…
With the rapid development of distributed energy resources, increasing number of residential and commercial users have been switched from pure electricity consumers to prosumers that can both consume and produce energy. To properly manage…
The recent rise of renewable energy produced by many decentralized sources yields interesting market design challenges for electrical grids. Balancing supply and demand in such networks is both a temporal and spatial challenge due to…
The growing amount of intermittent renewables in power generation creates challenges for real-time matching of supply and demand in the power grid. Emerging ancillary power markets provide new incentives to consumers (e.g., electrical…
The development of renewable energy generation empowers microgrids to generate electricity to supply itself and to trade the surplus on energy markets. To minimize the overall cost, a microgrid must determine how to schedule its energy…
In this paper, a distributed convex optimization framework is developed for energy trading between islanded microgrids. More specifically, the problem consists of several islanded microgrids that exchange energy flows by means of an…
Battery storage is expected to play a crucial role in the low-carbon transformation of energy systems. The deployment of battery storage in the power gird, however, is currently severely limited by its low economic viability, which results…
There is a growing interest in the integration of energy infrastructures to increase systems' flexibility and reduce operational costs. The most studied case is the synergy between electric and heating networks. Even though integrated heat…
We develop a stochastic game-theoretic model for intraday dispatch of grid-scale battery energy storage systems (BESSs). We assume that each BESS operator competitively manages her state-of-charge to maximize energy arbitrage revenues,…
In electricity systems supplied by renewable energy sources (RES), storage operators shift energy across time, helping maintain system adequacy. However, characterizing their strategic role and identifying the conditions under which…