Energy Storage in Energy Markets

Energy Storage in Energy Markets
Author: Behnam Mohammadi-Ivatloo,Amin Mohammadpour Shotorbani,Amjad Anvari-Moghaddam
Publsiher: Academic Press
Total Pages: 490
Release: 2021-04-30
ISBN: 0128203838
Category: Science
Language: EN, FR, DE, ES & NL

Energy Storage in Energy Markets Book Excerpt:

Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience of researchers and practitioners. The book provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and the impacts of energy storage integration. Heavily referenced and easily accessible to policymakers, developers, engineer, researchers and students alike, this comprehensive resource aims to fill the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce. Chapters elaborate on energy market fundamentals, operations, energy storage fundamentals, components, and the role and impact of storage systems on energy systems from different aspects, such as environmental, technical and economics, the role of storage devices in uncertainty handling in energy systems and their contributions in resiliency and reliability improvement. Provides integrated techno-economic analysis of energy storage systems and the energy markets Reviews impacts of electric vehicles as moving energy storage and loads on the electricity market Analyzes the role and impact of energy storage systems in the energy, ancillary, reserve and regulatory multi-market business Applies advanced methods to the economic integration of large-scale energy storage systems Develops an evaluation framework for energy market storage systems

Uncertainties in energy markets and their consideration in energy storage evaluation

Uncertainties in energy markets and their consideration in energy storage evaluation
Author: Keles, Dogan
Publsiher: KIT Scientific Publishing
Total Pages: 257
Release: 2014-05-22
ISBN: 3731500469
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Uncertainties in energy markets and their consideration in energy storage evaluation Book Excerpt:

Batteries in Electricity Markets

Batteries in Electricity Markets
Author: Bolun Xu
Publsiher: Unknown
Total Pages: 124
Release: 2018
ISBN: 1928374650XXX
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Batteries in Electricity Markets Book Excerpt:

Batteries have been storing electricity for mankind since 1800, while it is till recently that grid-scale battery energy storage become commercially viable and are seeking merchant opportunities in electricity markets. Battery energy storage have faster ramp speed compared to other types of generation units, and are extremely valuable for facilitating the integration of renewable energy resources. Battery energy storage can provide arbitrage and ancillary services in the electricity market. However, even though nowadays battery energy storage systems are constructed and operated with mature technologies, it remains an open question on how to operates them economically in electricity market to maximize the investment profit. This dissertation covers the optimal planning, scheduling, and operation for battery energy storage in electricity markets. It shows that the degradation mechanism of electrochemical battery cells must be considered in market bidding and operation strategies to maximize the participant's operating profit, and proposes optimal methods to incorporate the cost of battery degradation into different participation stages and markets. For frequency regulation markets, this dissertation proposes a real-time control policy that optimally trades-off the performance penalty and the degradation cost in frequency regulation operations. A optimal bidding policy is designed based on the proposed control policy to maximize participant's market profit while maintaining satisfactory operation performance. For energy markets, this dissertation designs a piece-wise linear model that accurately incorporates battery degradation cost into dispatch optimization and bidding strategies. Finally, this dissertation proposes a bi-level planning model to optimize the location and rating of battery energy storage systems considering both energy and reserve markets. This model ensures the profitability of investments in energy storage by enforcing a rate of return constraint. This model is tested on a 240-bus model of the Western Electricity Coordinating Council (WECC) system, and the result analyzes the effects of different storage technologies, rate of return requirements, and regulation market policies on ES participation on the optimal storage investment decisions.

Energy Storage for Smart Grids

Energy Storage for Smart Grids
Author: Pengwei Du,Ning Lu
Publsiher: Academic Press
Total Pages: 366
Release: 2014-10-18
ISBN: 0124095437
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Energy Storage for Smart Grids Book Excerpt:

Energy storage is a main component of any holistic consideration of smart grids, particularly when incorporating power derived from variable, distributed and renewable energy resources. Energy Storage for Smart Grids delves into detailed coverage of the entire spectrum of available and emerging storage technologies, presented in the context of economic and practical considerations. Featuring the latest research findings from the world’s foremost energy storage experts, complete with data analysis, field tests, and simulation results, this book helps device manufacturers develop robust business cases for the inclusion of storage in grid applications. It also provides the comparisons and explanations grid planners and operators need to make informed decisions about which storage solutions will be most successful when implemented in operational grids. Connects the latest research findings in energy storage with strategies for economical and practical implementation in grid systems Brings together diverse knowledge resources in one comprehensive volume covering all major storage technologies, explained by experts from the world's leading research institutions Includes detailed data analysis from field tests and simulations to help planners and engineers choose the storage method that will add the most value to their grid operations

Energy Markets and Responsive Grids

Energy Markets and Responsive Grids
Author: Sean Meyn,Tariq Samad,Ian Hiskens,Jakob Stoustrup
Publsiher: Springer
Total Pages: 518
Release: 2018-06-09
ISBN: 1493978225
Category: Science
Language: EN, FR, DE, ES & NL

Energy Markets and Responsive Grids Book Excerpt:

This volume consists of selected essays by participants of the workshop Control at Large Scales: Energy Markets and Responsive Grids held at the Institute for Mathematics and its Applications, Minneapolis, Minnesota, U.S.A. from May 9-13, 2016. The workshop brought together a diverse group of experts to discuss current and future challenges in energy markets and controls, along with potential solutions. The volume includes chapters on significant challenges in the design of markets and incentives, integration of renewable energy and energy storage, risk management and resilience, and distributed and multi-scale optimization and control. Contributors include leading experts from academia and industry in power systems and markets as well as control science and engineering. This volume will be of use to experts and newcomers interested in all aspects of the challenges facing the creation of a more sustainable electricity infrastructure, in areas such as distributed and stochastic optimization and control, stability theory, economics, policy, and financial mathematics, as well as in all aspects of power system operation.

Renewable Energy Storage

Renewable Energy Storage
Author: PEP (Professional Engineering Publishers)
Publsiher: Wiley
Total Pages: 64
Release: 2005-02-11
ISBN: 9781860583063
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Renewable Energy Storage Book Excerpt:

It has been frequently stated that energy storage is an essential requirement if significant generation by renewables is to be achieved, but are the present systems likely to be adequate? This text reviews the present status and future potential of the different systems of energy storage, their role in power generation by renewables specifically, and the electricty market generally.

Gravity Energy Storage

Gravity Energy Storage
Author: Asmae Berrada,Khalid Loudiyi
Publsiher: Elsevier
Total Pages: 186
Release: 2019-05-21
ISBN: 0128172924
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Gravity Energy Storage Book Excerpt:

Gravity Energy Storage provides a comprehensive analysis of a novel energy storage system that is based on the working principle of well-established, pumped hydro energy storage, but that also recognizes the differences and benefits of the new gravity system. This book provides coverage of the development, feasibility, design, performance, operation, and economics associated with the implementation of such storage technology. In addition, a number of modeling approaches are proposed as a solution to various difficulties, such as proper sizing, application, value and optimal design of the system. The book includes both technical and economic aspects to guide the realization of this storage system in the right direction. Finally, political considerations and barriers are addressed to complement this work. Discusses the feasibility of gravity energy storage technology Analyzes the storage system by modelling various system components Uniquely discusses the characteristics of this technology, giving consideration to its use as an attractive solution to the integration of large-scale, intermittent renewable energy

Energy Markets and Economics

Energy Markets and Economics
Author: Seema Narayan
Publsiher: MDPI
Total Pages: 190
Release: 2020-12-29
ISBN: 3039366769
Category: Science
Language: EN, FR, DE, ES & NL

Energy Markets and Economics Book Excerpt:

This issue brings together a collection of papers that provide economic insights into the modern energy market, which is still dominated by crude oil but has expanded to incorporate new energy sources in the form of coal, natural gas, and a mixture of renewable energy sources. Given the differences in the dynamics at play with different energy sources, particularly in relation to price determination, the impact they have on the environment, their importance in the energy mix and energy policy, and so forth, it has become imperative to check their behavior using economic models. Papers 1–3 provide some perspective on oil price determination by focusing on the time-varying nature of supply shocks linked to oil producers (Paper 1), OPEC’s announcements (2), and the heterogeneous interconnections of supply or demand shocks over time horizons and different countries (3). Papers 4–6 compare different energy sources within the energy market and other markets (4); explore the importance of energy storage in the electricity market (5); and examine the dynamic relationship between prices of substitutes (oil price) on the natural gas market in China (6). The final four studies examine the impact of renewable and nonrenewable energy on the macroeconomy and the environment.

Precautionary Storage in Electricity Markets

Precautionary Storage in Electricity Markets
Author: Tunc Durmaz
Publsiher: Unknown
Total Pages: 30
Release: 2016
ISBN: 1928374650XXX
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Precautionary Storage in Electricity Markets Book Excerpt:

As renewable energy depends on meteorological shocks and is non-controllable, the overall energy production becomes riskier with the rising renewable share. Although this has led to a renewed interest in storage technologies, not much consideration has been given to energy storage due to precautionary motives. In our study, we look at to what extent a convex marginal utility (prudence) and a convex marginal cost (frugality) can spur precautionary energy storage. We set up a simple theoretical model of energy consumption and production with intermittent renewable sources, dispatchable systems, and energy storage. First, we characterize the optimum and demonstrate how prudence and frugality can lead to higher levels of energy storage. By applying our findings to perfectly competitive markets, we further show that prudence and frugality increase the market energy price through higher demand for energy storage and decrease price volatility. Our analysis can have implications for inventory decisions in various other industries where firms face capacity constraints and are exposed to production risks.

Energy Markets Outlook Report

Energy Markets Outlook Report
Author: Great Britain: Department of Energy and Climate Change,Great Britain. Office of Gas and Electricity Markets
Publsiher: The Stationery Office
Total Pages: 138
Release: 2009
ISBN: 9780102963137
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Energy Markets Outlook Report Book Excerpt:

This report presented by the Department of Energy and Climate Change, sets out the nature and potential available to the UK energy market, in meeting three long-term challenges: (i) ensuring affordable, secure and sustainable energy; (ii) bringing about the transition to a low-carbon Britain; (iii) achieving an international agreement at Copenhagen in December 2009. This is the third Energy Markets Outlook report and seeks to facilitate and inform debate and decision making by market participants and other energy market stakeholders with a factual background to the development of the Government's approach to the above challenges. The publication comprises 10 chapters, and looks at the following areas: the security of supply in a competitive energy market; electricity, gas, coal, oil, nuclear fuel, renewable energy and carbon.

Energy Markets Outlook Report

Energy Markets Outlook Report
Author: Department of Energy and Climate Change
Publsiher: The Stationery Office
Total Pages: 138
Release: 2008
ISBN: 9780102958256
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Energy Markets Outlook Report Book Excerpt:

This report presented by the Department of Energy and Climate Change on (Energy Markets Outlook, HCP 81, session 2008-09, ISBN 9780102958256), sets out the nature and potential available to the UK energy market, in meeting three long-term challenges: (i) ensuring affordable, secure and sustainable energy; (ii) bringing about the transition to a low-carbon Britain; (iii) achieving an international agreement at Copenhagen in December 2009. This is the second Energy Markets Outlook report, (the first report was published on the web (http://www.berr.gov.uk/files/file41995.pdf)), and seeks to facilitate and inform debate and decision making by market participants and other energy market stakeholders with a factual background to the development of the Government's approach to the above challenges. This publication also complements the original White Paper on the subject of energy, (Meeting the Energy Challenge, Cm. 7124, ISBN 9780101712422). The publication comprises 10 chapters, and looks at the following areas, including: the security of supply in a competitive energy market; electricity, gas, coal, oil, nuclear fuel, renewable energy and carbon.

Planning and Operation of Multi Carrier Energy Networks

Planning and Operation of Multi Carrier Energy Networks
Author: Morteza Nazari-Heris,Somayeh Asadi,Behnam Mohammadi-Ivatloo
Publsiher: Springer Nature
Total Pages: 374
Release: 2021-04-05
ISBN: 3030600866
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Planning and Operation of Multi Carrier Energy Networks Book Excerpt:

This book discusses the optimal design and operation of multi-carrier energy systems, providing a comprehensive review of existing systems as well as proposing new models. Chapters cover the theoretical background and application examples of interconnecting energy technologies such as combined heat and power plants, natural gas-fired power plants, power to gas technology, hydropower plants, and water desalination systems, taking into account the operational and technical constraints of each interconnecting element and the network constraint of each energy system. This book will be a valuable reference for power network and mechanical system professionals and engineers, electrical power engineering researchers and developers, and professionals from affiliated power system planning communities. Provides insight on the design and operation of multi-carrier energy systems; Covers both theoretical aspects and technical applications; Includes case studies to help apply concepts to real engineering situations.

Solar Energy Markets

Solar Energy Markets
Author: Philip G. Jordan
Publsiher: Academic Press
Total Pages: 158
Release: 2013-11-14
ISBN: 0123977681
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Solar Energy Markets Book Excerpt:

This groundbreaking new book features holistic coverage of technological breakthroughs, financing trends, workforce development issues, and comparative regional case studies in solar energy. It provides a global bird's-eye view of the industry for scientists, engineers, business leaders, and policymakers — anyone seriously engaged in the rapidly evolving field of solar energy. The expert author's analysis includes primary data from the first comprehensive solar industry survey conducted in the United States, insights from key thought leaders in the energy sector, and case studies from international leaders in solar development. Solar Energy Markets examines six key drivers of the solar industry: 1) a new culture of environmentalism; 2) policy and markets; 3) financing and venture capital; 4) economics and cost-competitiveness; 5) innovation; and 6) labor. In a field too often marked by divisive over-specialization, this resource provides invaluable context, demonstrating how the solar field’s innovative triumphs and inherent challenges play out in the real global marketplace. Analyzes key drivers of the solar industry at international, national and local levels Synthesizes the first comprehensive surveys of the U.S. solar industry Uniquely ties together technological innovation with market implications for engineers, business leaders and policymakers alike Examines the evolving role of China in global solar markets

Local Electricity Markets

Local Electricity Markets
Author: Tiago Pinto,Zita Vale,Steve Widergren
Publsiher: Academic Press
Total Pages: 472
Release: 2021-07-03
ISBN: 0128226668
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Local Electricity Markets Book Excerpt:

Local Electricity Markets introduces the fundamental characteristics, needs, and constraints shaping the design and implementation of local electricity markets. It addresses current proposed local market models and lessons from their limited practical implementation. The work discusses relevant decision and informatics tools considered important in the implementation of local electricity markets. It also includes a review on management and trading platforms, including commercially available tools. Aspects of local electricity market infrastructure are identified and discussed, including physical and software infrastructure. It discusses the current regulatory frameworks available for local electricity market development internationally. The work concludes with a discussion of barriers and opportunities for local electricity markets in the future. Delineates key components shaping the design and implementation of local electricity market structure Provides a coherent view on the enabling infrastructures and technologies that underpin local market expansion Explores the current regulatory environment for local electricity markets drawn from a global panel of contributors Exposes future paths toward widespread implementation of local electricity markets using an empirical review of barriers and opportunities Reviews relevant local electricity market case studies, pilots and demonstrators already deployed and under implementation

Thermal Mechanical and Hybrid Chemical Energy Storage Systems

Thermal  Mechanical  and Hybrid Chemical Energy Storage Systems
Author: Klaus Brun,Timothy C. Allison,Richard Dennis
Publsiher: Academic Press
Total Pages: 634
Release: 2020-09-24
ISBN: 012819894X
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Thermal Mechanical and Hybrid Chemical Energy Storage Systems Book Excerpt:

Thermal, Mechanical, and Hybrid Chemical Energy Storage Systems provides unique and comprehensive guidelines on all non-battery energy storage technologies, including their technical and design details, applications, and how to make decisions and purchase them for commercial use. The book covers all short and long-term electric grid storage technologies that utilize heat or mechanical potential energy to store electricity, including their cycles, application, advantages and disadvantages, such as round-trip-efficiency, duration, cost and siting. Also discussed are hybrid technologies that utilize hydrogen as a storage medium aside from battery technology. Readers will gain substantial knowledge on all major mechanical, thermal and hybrid energy storage technologies, their market, operational challenges, benefits, design and application criteria. Provide a state-of-the-art, ongoing R&D review Covers comprehensive energy storage hybridization tactics Features standalone chapters containing technology advances, design and applications

Integration of Electric Vehicles and Battery Storage Systems

Integration of Electric Vehicles and Battery Storage Systems
Author: Hrvoje Pandžić
Publsiher: MDPI
Total Pages: 238
Release: 2021-04-22
ISBN: 3036501789
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Integration of Electric Vehicles and Battery Storage Systems Book Excerpt:

Achieving the goal of green and environmentally friendly energy systems is not possible without the concept of energy storage. Such storage should charge when renewable generation, e.g., photovoltaics and wind farms, is abundant and discharge during periods of its scarcity. Although pumped hydropower plants have been widely used as extremely large capacity energy storage, the recent technological developments in lithium-based batteries have made them economically feasible. The major advantages of batteries over a conventional energy storage system, i.e., hydropower, include its modularity and ease of integration with the transport system. This Special Issue is thus focused on both stationary batteries and mobile batteries in electric vehicles. Both should be used to provide flexibility and balancing services to power systems. While stationary batteries are focused solely on the power system, the batteries within electric vehicles need to primarily fulfill the task of providing energy for transportation. This is why their use in power systems is secondary. However, due to generally long parking periods, they can become a detrimental asset in terms of balancing the power system.

Sharing Economy in Energy Markets

Sharing Economy in Energy Markets
Author: Jianxiao Wang
Publsiher: Springer Nature
Total Pages: 135
Release: 2022
ISBN: 9811676453
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Sharing Economy in Energy Markets Book Excerpt:

Demand Response and Battery Energy Storage Systems in Electricity Markets

Demand Response and Battery Energy Storage Systems in Electricity Markets
Author: Nitin Padmanabhan
Publsiher: Unknown
Total Pages: 135
Release: 2019
ISBN: 1928374650XXX
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Demand Response and Battery Energy Storage Systems in Electricity Markets Book Excerpt:

Ensuring a balance between the generation and demand is one of the most challenging tasks in power systems because of contingencies, sudden load changes, forecasting errors and other disturbances, occurring from time to time. The peak demand, which occurs only for a short duration, has always been a concern for independent system operators (ISOs), as it leads to high market prices and reliability concerns. Furthermore, in recent years there have been significant increase in the penetration of renewable energy sources (RES) to address the challenge of significantly reducing carbon dioxide (CO2) and other greenhouse gas (GHG) emissions and the system's dependence on fossil fuels based generation resources. However, the high penetration of RES, because of their intermittency and uncertainty, poses operational and reliability issues and thus necessitates an increase in the procurement and deployment of primary and secondary regulation reserves, as well as spinning and non-spinning reserves. In recent years, demand response (DR) and battery energy storage systems (BESS), because of their characteristic features such as fast response time, high ramp rate, and the ability to provide flexible upward and downward response as compared to conventional generators, have been considered as promising and viable options by the ISO to reduce the peak demand, facilitate RES integration and for the provision of ancillary services, such as regulation and spinning reserves. Despite the benefits and the growth opportunities of DR and BESS, there are still many challenges associated with their market participation. To address the challenges pertaining to DR and BESS participation in electricity markets, this thesis proposes appropriate models and frameworks, which can efficiently integrate these resources into the day-ahead and real-time electricity markets, and at the same time effectively address the aforementioned challenges of ISOs. This thesis first presents a new bid/offer structure for DR provisions, simultaneously through price responsive demand (PRD) based bids and load curtailment based DR offers from customers. Thereafter, incorporating the DR offer structure, a novel day-ahead, co-optimizing market auction framework and mathematical model for DR-energy-spinning reserve market, based on LMPs, which includes transmission loss representation within the dc power flow constraints is proposed. The impact of DR on both energy and spinning reserve market prices, market dispatch, line congestions, and other economic indicators, is studied using the IEEE Reliability Test System (RTS), by considering various scenarios and cases. In the next stage, the thesis considers the BESS participation in the day-ahead markets. First, a novel BESS cost function model, considering Degradation Cost, based on depth of discharge (DOD) and discharge rate, and Flexibility Cost, in terms of the battery power-to-energy (P/E) ratio, is presented. A detailed bid/offer structure based on the proposed cost functions is formulated. Thereafter, a new framework and mathematical model for BESS participation in an LMP-based, co-optimized, day-ahead energy and spinning reserve market, have been developed. Three case studies are presented to investigate the impact of BESS participation on system operation and market settlement. The proposed model is validated on the IEEE RTS to demonstrate its functionalities. Finally, the thesis considers BESS participation in the real-time operations. Firstly, a novel framework for simultaneously procuring primary and secondary regulation reserves alongside energy, in a BESS integrated electricity market, by taking into account probabilistic scenarios of contingencies, is proposed. Thereafter, an appropriate mathematical model is developed considering BESS alongside conventional generators to determine the optimal real-time primary and secondary regulation reserves and energy market clearing, in a co-optimized, LMP based market, taking into consideration the a priori cleared day- ahead market schedules. Lastly, the impact of participation of BESS in day-ahead and real-time energy and reserve markets on prices, market clearing dispatch, and other economic indicators are investigated using the IEEE RTS, for various scenarios and cases.

Energy Storage Options and Their Environmental Impact

Energy Storage Options and Their Environmental Impact
Author: R. E. Hester,R. M. Harrison
Publsiher: Royal Society of Chemistry
Total Pages: 333
Release: 2018-10-22
ISBN: 1788013999
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Energy Storage Options and Their Environmental Impact Book Excerpt:

Recent decades have seen huge growth in the renewable energy sector, spurred on by concerns about climate change and dwindling supplies of fossil fuels. One of the major difficulties raised by an increasing reliance on renewable resources is the inflexibility when it comes to controlling supply in response to demand. For example, solar energy can only be produced during the day. The development of methods for storing the energy produced by renewable sources is therefore crucial to the continued stability of global energy supplies. However, as with all new technology, it is important to consider the environmental impacts as well as the benefits. This book brings together authors from a variety of different backgrounds to explore the state-of-the-art of large-scale energy storage and examine the environmental impacts of the main categories based on the types of energy stored. A valuable resource, not just for those working and researching in the renewable energy sector, but also for policymakers around the world.

Electricity Markets with Increasing Levels of Renewable Generation Structure Operation Agent based Simulation and Emerging Designs

Electricity Markets with Increasing Levels of Renewable Generation  Structure  Operation  Agent based Simulation  and Emerging Designs
Author: Fernando Lopes,Helder Coelho
Publsiher: Springer
Total Pages: 327
Release: 2018-02-14
ISBN: 3319742639
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Electricity Markets with Increasing Levels of Renewable Generation Structure Operation Agent based Simulation and Emerging Designs Book Excerpt:

This book describes the common ground between electricity markets (EMs) and software agents (or artificial intelligence generally). It presents an up-to-date introduction to EMs and intelligent agents, and offers a comprehensive description of the research advances and key achievements related to existing and emerging market designs to reliably and efficiently manage the potential challenges of variable generation (VG). Most EMs are unique in their complex relationships between economics and the physics of energy, but were created without the notion that large penetrations of variable generation (VG) would be part of the supply mix. An advanced multi-agent approach simulates the behavior of power markets over time, particularly markets with large-scale penetrations of renewable resources. It is intended as a reference book for researchers, academics and industry practitioners, but given the scope of the chapters and the highly accessible style, the book also provides a coherent foundation for several different graduate courses.