6,276 research outputs found

    Optimizing energy storage participation in emerging power markets

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    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 vehicles, data centers, and others) to perform demand response to help stabilize the electricity grid. A promising class of potential demand response providers includes energy storage systems (ESSs). This paper evaluates the benefits of using various types of novel ESS technologies for a variety of emerging smart grid demand response programs, such as regulation services reserves (RSRs), contingency reserves, and peak shaving. We model, formulate and solve optimization problems to maximize the net profit of ESSs in providing each demand response. Our solution selects the optimal power and energy capacities of the ESS, determines the optimal reserve value to provide as well as the ESS real-time operational policy for program participation. Our results highlight that applying ultra-capacitors and flywheels in RSR has the potential to be up to 30 times more profitable than using common battery technologies such as LI and LA batteries for peak shaving

    Optimizing Energy Storage Participation in Emerging Power Markets

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    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 vehicles, data centers, and others) to perform demand response to help stabilize the electricity grid. A promising class of potential demand response providers includes energy storage systems (ESSs). This paper evaluates the benefits of using various types of novel ESS technologies for a variety of emerging smart grid demand response programs, such as regulation services reserves (RSRs), contingency reserves, and peak shaving. We model, formulate and solve optimization problems to maximize the net profit of ESSs in providing each demand response. Our solution selects the optimal power and energy capacities of the ESS, determines the optimal reserve value to provide as well as the ESS real-time operational policy for program participation. Our results highlight that applying ultra-capacitors and flywheels in RSR has the potential to be up to 30 times more profitable than using common battery technologies such as LI and LA batteries for peak shaving.Comment: The full (longer and extended) version of the paper accepted in IGSC 201

    Economic Feasibility of Renewable Electricity Generation Systems for Local Government Office: Evaluation of the Jeju Special Self-Governing Province in South Korea

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    While environmental and energy concerns have become global issues, the government of South Korea has made notable efforts and formulated plans for the diffusion of renewable energy generation facilities for the nation’s public and governmental institutions. Accordingly, Jeju Island has become one of the most promising locations for utilizing renewable energy resources. This study aims to propose potential configurations for renewable energy generation facilities (mainly solar and wind energy facilities) in response to the electricity demand of the main local governmental offices of Jeju Special Self-Governing Province. The study utilizes the hybrid optimization of multiple energy resources software to simulate two optimized configurations for generation at a cost of energy of 0.306perkWh(independent)and0.306 per kWh (independent) and 0.204 per kWh (grid-connected) with 100% renewable fraction for the island. The implications of the simulation results and limitations of the study are discussed.This studywas supported by the Dongguk University Research Fund of 2015. Support for the UJI Robotic Intelligence Laboratory is provided in part by Ministerio de Economía y Competitividad (DPI2015-69041-R), by Generalitat Valenciana (PROMETEOII/2014/028) and by Universitat Jaume I (P1-1B2014-52)

    Enlargement and Integration Action Activity Workshop on Costs, Benefits and Impact Assessment of Smart Grids for Europe and Beyond

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    Smart Grids are a key component of the European strategy toward a low-carbon energy future. Growing environmental and energy security concerns represent a major driver for the renovation and improvement of existing energy infrastructure. In this context, Enlargement and Integration countries will have to face substantial investments in the coming years to upgrade and modernise their energy networks towards smart power grids. Wind and solar electricity retain the greatest potential to contribute and increase the shares of renewable electricity production; however, current electricity transmission and distribution systems do not generally appear adequate to reliably cope with large-scale penetration of such variable renewables based generating plants (whether centralised or distributed). Significant investments will need to be mobilized. Most energy investments are long life and capital intensive, therefore investment decisions taken now will have an impact for many years. When planning the electricity system of the future, it is necessary to adopt an integrated approach to assess the interrelated physical, environmental, cyber, social, economic and policy challenges where a fair allocation of short term costs and long term benefits among different players is a precondition for reducing uncertainties and incentivize investments. In this context the workshop will discuss how these developments can provide examples and opportunities for E&I countries to build smart grids and will present and discuss approaches and methodologies for cost – benefit analysis that should include all the costs and benefits that smart grid projects can bring to the energy system at large and to society. The workshop will discuss the impacts of smart grids not only in monetary terms, but also through the identification of externalities and social impacts that can result from the implementation of Smart Grid. The workshop will benefit from the on-going experience in Enlargement and Integration Countries on smart grid developments.JRC.F.3-Energy Security, Systems and Marke
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