56 research outputs found

    A World-Class University-Industry Consortium for Wind Energy Research, Education, and Workforce Development: Final Technical Report

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    Economics of Electricity Battery Storage

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    This chapter deals with the challenges and opportunities of energy storage, with a specific focus on the economics of batteries for storing electricity in the framework of the current energy transition. Storage technologies include a variety of solutions that have been used for different grid services, including frequency control, load following, and uninterrupted power supply. A recent interest is being triggered by the increasing grid balance requirements to integrate variable renewable sources and distributed generation. In parallel, lithium-ion batteries are experiencing a strong market expansion driven by an uptake of electric vehicles worldwide, which is leading to a strong decrease of production costs, making Li-ion batteries an attractive solution also for stationary storage applications

    The Palgrave Handbook of International Energy Economics

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    This open access handbook is distinguished by its emphasis on international energy, rather than domestic energy policies or international geopolitic aspects. Addressing key topics such as energy production and distribution, renewables and corporate energy structures, alongside global energy trends, regional case studies and emerging areas such as the digitalization of energy and energy transition, this handbook provides a major new contribution to the field of international energy economics. Written by academics, practitioners and policy-makers, this handbook is a valuable and timely addition to the literature on international energy economics. This book was published open access with the support of Eni

    IAS: an IoT Architectural Self-adaptation Framework

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    International audienceThis paper develops a generic approach to model control loops and their interac- tion within the Internet of Things (IoT) environments. We take advantage of MAPE-K loops to enable architectural self-adaptation. The system’s architectural setting is aligned with the adaptation goals and the components run-time situation and constraints. We introduce an integrated framework for IoT Architectural Self-adaptation (IAS) where functional control elements are in charge of environmental adaptation and autonomic control elements handle the functional system’s architectural adaptation. A Queuing Networks (QN) approach was used for modeling the IAS. The IAS-QN can model control levels and their interaction to perform both architectural and environmental adaptations. The IAS-QN was modeled on a smart grid system for the Melle-Longchamp area (France). Our architectural adaptation approach successfully set the propositions to enhance the performance of the electricity trans- mission system. This industrial use-case is a part of CPS4EU European industrial innovation pro ject

    Energy from Iceland : the feasibility of exporting electricity from Iceland to the United Kingdom

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    This study examines the impact of building a subsea power cable between Iceland and the UK. It aims to provide a better understanding of the cost and benefits associated with the international liberalisation of Iceland’s electricity market. The first part of the thesis explores the simulation results of a large-scale simulation model for the European energy market (LIBEMOD), where a cable has been implemented. The model accounts for total energy produced, as well as total energy consumed, in each of the model countries, including the 27 countries of the European Union, Iceland, Norway and Switzerland. The second part of the thesis mainly focuses on the decision for buying and selling electricity through a subsea power cable between Iceland and the UK in order to explore the arbitrage possibility, which provides a thorough account of the value of the adaptability of Icelandic hydropower. There are two interlinked issues in hydropower scheduling: i) determination of the water value; and ii) optimal bidding into the day-ahead marked conditional upon the water value, which are identified theoretically. A conceptual solution using stochastic dynamic programming is provided and is supported by a simplified version of the problem along the lines of a battery problem (i.e., a given storage with a stochastic inflow and fixed domestic demand interacting with the UK market through a day-ahead auction). The study concludes that building a 900 MW subsea power cable between Iceland and the UK would significantly increase electricity production in Iceland due to higher prices. This would result in a considerable redistribution of welfare from consumers to producers, and an increase in welfare in the country’s energy sector by €64 million a year, compared to no cable being installed. In addition, the connection to cheap green power supplies is beneficial to the UK, where the economic welfare would increase by €41 million per year for a 900 MW cable in contrast to a scenario where there is no cable. Moreover, there is an increase in the total economic welfare of both countries when there is a higher investment resulting in a 1471 MW cable, together with an increase in the total producer and consumer surplus in both countries.M-ECO

    Cost allocation and risk management in renewable electricity networks

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    As part of the efforts to mitigate climate change, there has been rapidly increasing share of renewable power generation in the European electricity system. In the interest of bridging the gap between corporate and academic research interests, this PhD project presents a research collaboration on renewable electricity systems between Aarhus University and the energy trading company Danske Commodities.The first part of this dissertation has the perspective of a central planner exploring the optimal system design based on simplified fundamental models of the European electricity system. The aim is to determine the optimal locations and capacities of renewable generation sources while keeping the system reliable and cost-efficient. A subsequent step is to allocate the costs associated with the investments needed for the optimal electricity system of the future. I apply power flow tracing techniques for allocation of transmission system usage, cost allocation of generation capacities as well as consumption-based carbon accounting.In the second part, the perspective is changed to that of individual investors in renewable generation technologies, specifically wind turbines. I apply econometric models in the form of copulas to jointly model wind power production and power spot price. The goal is for an energy trading company to minimize the risk associated with long-term wind power purchase agreements, which, in turn, minimizes the risk of investors in these wind turbines. This provides additional incentives for similar investments and thereby increasing the share of renewable power generation in the European electricity system.Applying physical and financial models to different aspects of the European electricity system has led to insights on the differences between the two modeling perspectives. The central planning perspective is useful when exploring pragmatic solutions to the overall design of the European electricity system of the future, but provides no guidance for the individual actors in the system. In contrast, an investor in renewable generating assets focuses on a set of business goals with little regard to their impact on the overall electricity system.The link between the two perspectives is the policy makers, who regulate the electricity system. The results from system models using the central planning perspective can be used by the policy makers as guidelines to provide the right incentives for investors, and other actors in the system, such that the current European electricity system develops towards the optimal and sustainable system of the future
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