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/Report/Conference proceedingArticle in proceedingsResearchpeer-review

    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 GM 2010
    PublisherIEEE
    Publication date2010
    ISBN (Print)978-1-4244-6549-1
    ISBN (Electronic)978-1-4244-8357-0
    DOIs
    Publication statusPublished - 2010
    Event2010 IEEE Power and Energy Society General Meeting - Minneapolis, United States
    Duration: 25 Jul 201029 Jul 2010
    http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=5577387

    Conference

    Conference2010 IEEE Power and Energy Society General Meeting
    Country/TerritoryUnited States
    CityMinneapolis
    Period25/07/201029/07/2010
    Internet address

    Keywords

    • regulating power
    • electricity market
    • vehicle to grid
    • power system
    • distributed storage
    • renewable energy
    • time-series analysis
    • market design
    • electric vehicle
    • Monte-Carlo simulation

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