Redesign electricity market for the next generation power system of renewable energy and distributed storage technologies

Donghan Feng, Zhao Xu, Jacob Østergaard

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

3 Citations (Scopus)

Abstract

This paper proposes a stochastic time-series based method to simulate the volatility of intermittent renewable generation and distributed storage devices along timeline. The proposed method can calculate the optimal timeline for different electricity markets and power systems. In practice, the proposed method is potentially useful for designing market rules and evaluating different design options. Following works is underway on application and simulation of proposed method using the realistic distribution system of Bornholm Island in Denmark.
Original languageEnglish
Title of host publicationIEEE PES General Meeting, PES 2010
DOIs
Publication statusPublished - 6 Dec 2010
Externally publishedYes
EventIEEE PES General Meeting, PES 2010 - Minneapolis, MN, United States
Duration: 25 Jul 201029 Jul 2010

Conference

ConferenceIEEE PES General Meeting, PES 2010
CountryUnited States
CityMinneapolis, MN
Period25/07/1029/07/10

Keywords

  • Distributed storage
  • Electric vehicle
  • Electricity market
  • Market design
  • Monte-Carlo simulation
  • Power system
  • Regulating power
  • Renewable energy
  • Time-series analysis
  • Vehicle to grid

ASJC Scopus subject areas

  • Energy Engineering and Power Technology

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