Redesign Electricity Market for the Next Generation Power System of Renewable Energy and Distributed Storage Technologies

Donghan Feng; Zhao Xu; Jacob Østergaard

doi:10.1109/PES.2010.5588136

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 proceeding › Article in proceedings › Research › peer-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 language	English
Title of host publication	IEEE PES GM 2010
Publisher	IEEE
Publication date	2010
ISBN (Print)	978-1-4244-6549-1
ISBN (Electronic)	978-1-4244-8357-0
DOIs	https://doi.org/10.1109/PES.2010.5588136
Publication status	Published - 2010
Event	2010 IEEE Power and Energy Society General Meeting - Minneapolis, United States Duration: 25 Jul 2010 → 29 Jul 2010 http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=5577387

Conference

Conference	2010 IEEE Power and Energy Society General Meeting
Country/Territory	United States
City	Minneapolis
Period	25/07/2010 → 29/07/2010
Internet address	http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=5577387

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

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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10.1109/PES.2010.5588136

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@inproceedings{ac87edaec9054be08a1a5c70923a1745,

title = "Redesign Electricity Market for the Next Generation Power System of Renewable Energy and Distributed Storage Technologies",

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.",

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

author = "Donghan Feng and Zhao Xu and Jacob {\O}stergaard",

year = "2010",

doi = "10.1109/PES.2010.5588136",

language = "English",

isbn = "978-1-4244-6549-1",

booktitle = "IEEE PES GM 2010",

publisher = "IEEE",

address = "United States",

note = "2010 IEEE Power and Energy Society General Meeting, PESGM 2010 ; Conference date: 25-07-2010 Through 29-07-2010",

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}

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T1 - Redesign Electricity Market for the Next Generation Power System of Renewable Energy and Distributed Storage Technologies

AU - Feng, Donghan

AU - Xu, Zhao

AU - Østergaard, Jacob

PY - 2010

Y1 - 2010

N2 - 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.

AB - 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.

KW - regulating power

KW - electricity market

KW - vehicle to grid

KW - power system

KW - distributed storage

KW - renewable energy

KW - time-series analysis

KW - market design

KW - electric vehicle

KW - Monte-Carlo simulation

U2 - 10.1109/PES.2010.5588136

DO - 10.1109/PES.2010.5588136

M3 - Article in proceedings

SN - 978-1-4244-6549-1

BT - IEEE PES GM 2010

PB - IEEE

T2 - 2010 IEEE Power and Energy Society General Meeting

Y2 - 25 July 2010 through 29 July 2010

ER -

Redesign Electricity Market for the Next Generation Power System of Renewable Energy and Distributed Storage Technologies

Abstract

Conference

UN SDGs

Keywords

Access to Document

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Cite this