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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