Download or read book Optimization Tools for Constrained Energy Markets written by Eric Munsing and published by . This book was released on 2018 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation develops an interdisciplinary approach to integrating renewable energy resources into energy markets, using tools from optimization theory, power systems, and economics. It advances prior work with the development of a set of tools for securing distributed and fully-decentralized optimization problems, including both algorithmic guards against attacks by malicious nodes, and system architectures which can enable decentralized security checks. Leveraging the emerging technologies of blockchains and smart contracts, it develops a new paradigm of blockchain-secured distributed optimization, demonstrated with simulation of a microgrid which is able to securely operate without oversight from a utility or central operator. As the goal of interdisciplinary research is to show mastery of each field and extend current knowledge by exploring their intersection, the chapters of this dissertation are designed to support that goal: • Chapter 1 provides background on the technical challenges of integrating high amounts of renewable energy into the electricity system, and discusses technologies and policies which can address those challenges. • Chapter 2 introduces the idea of applying optimization tools to energy systems by studying a small-scale energy harvesting system in which batteries and capacitors are used to meet a defined load, and constraints force the use of nonlinear optimization techniques. • Chapter 3 explores how large-scale energy storage systems can be designed and sited to maximize profits from participating in wholesale energy markets, using a linear program which demonstrates how convex optimization tools can be united with energy market data to create scalable tools for modeling large networks. • Chapter 4 expands the study of market-based models by examining the strategic operation of generation resources on a congested network. We use game theory to model participants’ behavior, power flow models to reflect the underlying constraints of the physical network, and robust convex optimization to explore how uncertainty is integrated into decision-making. • Chapter 5 discusses how decentralized optimization models can facilitate scalable optimization tools, and explores the security risks which these optimization models introduce. Tools for detection and mitigation of attacks are explored and tested on a simple problem. Potential architectures for securing decentralized optimization are explored, including blockchains and smart contracts. • Chapter 6 extends this approach by developing a blockchain-secured fully-decentralized optimization for a microgrid dispatch problem, coordinating distributed energy resources. By demonstrating the usefulness of this blockchain-secured optimization model, this culminating chapter shows how difficult optimization models can be scalably solved in a manner which respects privacy while guaranteeing security. • The Appendices present tutorial material on the tools used throughout the paper, and are supplemented by the code in the author’s github repository: https://github.com/emunsing/tutorials.

Download or read book Optimization in Renewable Energy Systems written by Ozan Erdinc and published by Butterworth-Heinemann. This book was released on 2017-02-25 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimization in Renewable Energy Systems: Recent Perspectives covers all major areas where optimization techniques have been applied to reduce uncertainty or improve results in renewable energy systems (RES). Production of power with RES is highly variable and unpredictable, leading to the need for optimization-based planning and operation in order to maximize economies while sustaining performance. This self-contained book begins with an introduction to optimization, then covers a wide range of applications in both large and small scale operations, including optimum operation of electric power systems with large penetration of RES, power forecasting, transmission system planning, and DG sizing and siting for distribution and end-user premises. This book is an excellent choice for energy engineers, researchers, system operators, system regulators, and graduate students. Provides chapters written by experts in the field Goes beyond forecasting to apply optimization techniques to a wide variety of renewable energy system issues, from large scale to relatively small scale systems Provides accompanying computer code for related chapters

Download or read book Virtual Power Plants and Electricity Markets written by Luis Baringo and published by Springer Nature. This book was released on 2020-09-03 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a detailed analysis of operation and planning problems faced by virtual power plants participating in different electricity markets. The chapters address in-depth, topics such as: optimization, market power, expansion, and modelling uncertainty in operation and planning problems of virtual power plants. The book provides an up-to-date description of decision-making tools to address challenging questions faced by virtual power plants such as: How can virtual power plants optimize their participation in electricity markets? How can a virtual power plant exercise market power? How can virtual power plants be optimally expanded? How can uncertainty be efficiently modelled in the operation and planning problems of virtual power plants? The book is written in a tutorial style and modular format, and includes many illustrative examples to facilitate comprehension. It is intended for a diverse audience including advanced undergraduate and graduate students in the fields of electric energy systems, operations research, and economics. Practitioners in the energy sector will also benefit from the concepts and techniques presented in this book. In particular, this book: Provides students with the GAMS codes to solve the examples in the book; Provides a basis for the formulation of decision-making problems under uncertainty; Contains a blend of theoretical concepts and practical applications that are developed as working algorithms.

Download or read book Optimization Methods for Gas and Power Markets written by Enrico Edoli and published by Springer. This book was released on 2016-04-30 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: As power and gas markets are becoming more and more mature and globally competitive, the importance of reaching maximum potential economic efficiency is fundamental in all the sectors of the value chain, from investments selection to asset optimization, trading and sales. Optimization techniques can be used in many different fields of the energy industry, in order to reduce production and financial costs, increase sales revenues and mitigate all kinds of risks potentially affecting the economic margin. For this reason the industry has now focused its attention on the general concept of optimization and to the different techniques (mainly mathematical techniques) to reach it. Optimization Methods for Gas and Power Markets presents both theoretical elements and practical examples for solving energy optimization issues in gas and power markets. Starting with the theoretical framework and the basic business and economics of power and gas optimization, it quickly moves on to review the mathematical optimization problems inherent to the industry, and their solutions – all supported with examples from the energy sector. Coverage ranges from very long-term (and capital intensive) optimization problems such as investment valuation/diversification to asset (gas and power) optimization/hedging problems, and pure trading decisions. This book first presents the readers with various examples of optimization problems arising in power and gas markets, then deals with general optimization problems and describes the mathematical tools useful for their solution. The remainder of the book is dedicated to presenting a number of key business cases which apply the proposed techniques to concrete market problems. Topics include static asset optimization, real option evaluation, dynamic optimization of structured products like swing, virtual storage or virtual power plant contracts and optimal trading in intra-day power markets. As the book progresses, so too does the level of mathematical complexity, providing readers with an appreciation of the growing sophistication of even common problems in current market practice. Optimization Methods for Gas and Power Markets provides a valuable quantitative guide to the technicalities of optimization methodologies in gas and power markets; it is essential reading for practitioners in the energy industry and financial sector who work in trading, quantitative analysis and energy risk modeling.

Download or read book Optimization Principles written by Narayan S. Rau and published by John Wiley & Sons. This book was released on 2003-09-22 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's need-to-know optimization techniques, at your fingertips The use of optimization methods is familiar territory to academicians and researchers. Yet, in today's world of deregulated electricity markets, it's just as important for electric power professionals to have a solid grasp of these increasingly relied upon techniques. Making those techniques readily accessible is the hallmark of Optimization Principles: Practical Applications to the Operation and Markets of the Electric Power Industry. With deregulation, market rules and economic principles dictate that commodities be priced at the marginal value of their production. As a result, it's necessary to work with ever-more-sophisticated algorithms using optimization techniques-either for the optimal dispatch of the system itself, or for pricing commodities and the settlement of markets. Succeeding in this new environment takes a good understanding of methods that involve linear and nonlinear optimization, including optimal power flow, locational marginal prices for energy, and the auction of hedging instruments. In its comprehensive, skill-building overview of optimization techniques, Optimization Principles puts you on the same footing with algorithm-savvy software developers. Starting with a helpful look at matrix algebra fundamentals, this just-in-time reference covers: * Deregulated electricity markets: terminology and acronyms * Solution of equations, inequalities, and linear programs * Unconstrained and constrained nonlinear optimization * Applications to practical problems addressing system dispatch, market design, and material procurement * And related topics As an aid to the uninitiated, appendices provide a brief description of basic principles of electricity, and the development of network equations. Optimization Principles allows you to learn optimization methods at your own pace using Microsoft Excel or MATLAB software, and it includes an FTP web site with downloadable Excel spreadsheets and problems. After mastering these practical applications, you can then refer to chapters that highlight the theoretical background of the algorithms and resulting solutions. The book also includes a Web site with downloadable files of all example problems and solved problems. Ideal for engineers, other electric power professionals, and advanced engineering students, Optimization Principles demystifies the electric power industry under deregulation-and delivers a complete, learn-as-you-go tutorial of optimization techniques that no other resource can match.

Download or read book Modeling and Optimization of Interdependent Energy Infrastructures written by Wei Wei and published by Springer Nature. This book was released on 2019-10-22 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book opens up new ways to develop mathematical models and optimization methods for interdependent energy infrastructures, ranging from the electricity network, natural gas network, district heating network, and electrified transportation network. The authors provide methods to help analyze, design, and operate the integrated energy system more efficiently and reliably, and constitute a foundational basis for decision support tools for the next-generation energy network. Chapters present new operation models of the coupled energy infrastructure and the application of new methodologies including convex optimization, robust optimization, and equilibrium constrained optimization. Four appendices provide students and researchers with helpful tutorials on advanced optimization methods: Basics of Linear and Conic Programs; Formulation Tricks in Integer Programming; Basics of Robust Optimization; Equilibrium Problems. This book provides theoretical foundation and technical applications for energy system integration, and the the interdisciplinary research presented will be useful to readers in many fields including electrical engineering, civil engineering, and industrial engineering.

Download or read book Regulation of the Power Sector written by Ignacio J. Pérez-Arriaga and published by Springer Science & Business Media. This book was released on 2014-02-26 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation of the Power Sector is a unified, consistent and comprehensive treatment of the theories and practicalities of regulation in modern power-supply systems. The need for generation to occur at the time of use occasioned by the impracticality of large-scale electricity storage coupled with constant and often unpredictable changes in demand make electricity-supply systems large, dynamic and complex and their regulation a daunting task. Arranged in four parts, this book addresses both traditional regulatory frameworks and also liberalized and re-regulated environments. First, an introduction gives a full characterization of power supply including engineering, economic and regulatory viewpoints. The second part presents the fundamentals of regulation and the third looks at the regulation of particular components of the power sector in detail. Advanced topics and subjects still open or subject to dispute form the content of Part IV. In a sector where regulatory design is the key driver of both the industry efficiency and the returns on investment, Regulation of the Power Sector is directed at regulators, policy decision makers, business managers and researchers. It is a pragmatic text, well-tested by the authors’ quarter-century of experience of power systems from around the world. Power system professionals and students at all levels will derive much benefit from the authors’ wealth of blended theory and real-world-derived know-how.

Download or read book Power Optimization and Synthesis at Behavioral and System Levels Using Formal Methods written by Jui-Ming Chang and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Integrated circuit densities and operating speeds continue to rise at an exponential rate. Chips, however, cannot get larger and faster without a sharp decrease in power consumption beyond the current levels. Minimization of power consumption in VLSI chips has thus become an important design objective. In fact, with the explosive growth in demand for portable electronics and the usual push toward more complex functionality and higher performance, power consumption has in many cases become the limiting factor in satisfying the market demand. A new generation of power-conscious CAD tools are coming onto the market to help designers estimate, optimize and verify power consumption levels at most stages of the IC design process. These tools are especially prevalent at the register-transfer level and below. There is a great need for similar tools and capabilities at the behavioral and system levels of the design process. Many researchers and CAD tool developers are working on high-level power modeling and estimation, as well as power-constrained high-level synthesis and optimization. Techniques and tools alone are, however, insufficient to optimize VLSI circuit power dissipation - a consistent and convergent design methodology is also required. Power Optimization and Synthesis at Behavioral and System Levels Using Formal Methods was written to address some of the key problems in power analysis and optimization early in the design process. In particular, this book focuses on power macro-modeling based on regression analysis and power minimization through behavioral transformations, scheduling, resource assignment and hardware/software partitioning and mapping. What differentiates this book from other published work on the subject is the mathematical basis and formalism behind the algorithms and the optimality of these algorithms subject to the stated assumptions. From the Foreword: `This book makes an important contribution to the field of system design technologies by presenting a set of algorithms with guaranteed optimality properties, that can be readily applied to system-level design. This contribution is timely, because it fills the need of new methods for a new design tool generation, which supports the design of electronic systems with even more demanding requirements'. Giovanni De Micheli, Professor, Stanford University

Download or read book Stochastic Optimization Methods in Finance and Energy written by Marida Bertocchi and published by Springer Science & Business Media. This book was released on 2011-09-15 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a collection of contributions dedicated to applied problems in the financial and energy sectors that have been formulated and solved in a stochastic optimization framework. The invited authors represent a group of scientists and practitioners, who cooperated in recent years to facilitate the growing penetration of stochastic programming techniques in real-world applications, inducing a significant advance over a large spectrum of complex decision problems. After the recent widespread liberalization of the energy sector in Europe and the unprecedented growth of energy prices in international commodity markets, we have witnessed a significant convergence of strategic decision problems in the energy and financial sectors. This has often resulted in common open issues and has induced a remarkable effort by the industrial and scientific communities to facilitate the adoption of advanced analytical and decision tools. The main concerns of the financial community over the last decade have suddenly penetrated the energy sector inducing a remarkable scientific and practical effort to address previously unforeseeable management problems. Stochastic Optimization Methods in Finance and Energy: New Financial Products and Energy Markets Strategies aims to include in a unified framework for the first time an extensive set of contributions related to real-world applied problems in finance and energy, leading to a common methodological approach and in many cases having similar underlying economic and financial implications. Part 1 of the book presents 6 chapters related to financial applications; Part 2 presents 7 chapters on energy applications; and Part 3 presents 5 chapters devoted to specific theoretical and computational issues.

Download or read book Local Electricity Markets written by Tiago Pinto and published by Academic Press. This book was released on 2021-07-03 with total page 474 pages. Available in PDF, EPUB and Kindle. 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

Download or read book Complementarity Modeling in Energy Markets written by Steven A. Gabriel and published by Springer Science & Business Media. This book was released on 2012-07-20 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: This addition to the ISOR series introduces complementarity models in a straightforward and approachable manner and uses them to carry out an in-depth analysis of energy markets, including formulation issues and solution techniques. In a nutshell, complementarity models generalize: a. optimization problems via their Karush-Kuhn-Tucker conditions b. on-cooperative games in which each player may be solving a separate but related optimization problem with potentially overall system constraints (e.g., market-clearing conditions) c. conomic and engineering problems that aren’t specifically derived from optimization problems (e.g., spatial price equilibria) d. roblems in which both primal and dual variables (prices) appear in the original formulation (e.g., The National Energy Modeling System (NEMS) or its precursor, PIES). As such, complementarity models are a very general and flexible modeling format. A natural question is why concentrate on energy markets for this complementarity approach? s it turns out, energy or other markets that have game theoretic aspects are best modeled by complementarity problems. The reason is that the traditional perfect competition approach no longer applies due to deregulation and restructuring of these markets and thus the corresponding optimization problems may no longer hold. Also, in some instances it is important in the original model formulation to involve both primal variables (e.g., production) as well as dual variables (e.g., market prices) for public and private sector energy planning. Traditional optimization problems can not directly handle this mixing of primal and dual variables but complementarity models can and this makes them all that more effective for decision-makers.

Download or read book Classical and Recent Aspects of Power System Optimization written by Ahmed F. Zobaa and published by Academic Press. This book was released on 2018-06-29 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classical and Recent Aspects of Power System Optimization presents conventional and meta-heuristic optimization methods and algorithms for power system studies. The classic aspects of optimization in power systems, such as optimal power flow, economic dispatch, unit commitment and power quality optimization are covered, as are issues relating to distributed generation sizing, allocation problems, scheduling of renewable resources, energy storage, power reserve based problems, efficient use of smart grid capabilities, and protection studies in modern power systems. The book brings together innovative research outcomes, programs, algorithms and approaches that consolidate the present state and future challenges for power. Analyzes and compares several aspects of optimization for power systems which has never been addressed in one reference Details real-life industry application examples for each chapter (e.g. energy storage and power reserve problems) Provides practical training on theoretical developments and application of advanced methods for optimum electrical energy for realistic engineering problems

Download or read book Electricity Markets written by Sayyad Nojavan and published by Springer Nature. This book was released on 2020-03-10 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes new electricity pricing models that consider uncertainties in the power market due to the changing behavior of market players and the implementation of renewable distributed generation and responsive loads. In-depth chapters examine the different types of market players including the generation, transmission, and distribution companies, virtual power plants, demand response aggregators, and energy hubs and microgrids. Expert authors propose optimal operational models for short-term performance and scheduling and present readers with solutions for pricing challenges in uncertain environments. This book is useful for engineers, researchers and students involved in integrating demand response programs into smart grids and for electricity market operation and planning. Proposes optimal operation models; Discusses the various players in today's electricity markets; Describes the effects of demand response programs in smart grids.

Download or read book Robust Optimization in Electric Energy Systems written by Xu Andy Sun and published by Springer Nature. This book was released on 2021-11-08 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers robust optimization theory and applications in the electricity sector. The advantage of robust optimization with respect to other methodologies for decision making under uncertainty are first discussed. Then, the robust optimization theory is covered in a friendly and tutorial manner. Finally, a number of insightful short- and long-term applications pertaining to the electricity sector are considered. Specifically, the book includes: robust set characterization, robust optimization, adaptive robust optimization, hybrid robust-stochastic optimization, applications to short- and medium-term operations problems in the electricity sector, and applications to long-term investment problems in the electricity sector. Each chapter contains end-of-chapter problems, making it suitable for use as a text. The purpose of the book is to provide a self-contained overview of robust optimization techniques for decision making under uncertainty in the electricity sector. The targeted audience includes industrial and power engineering students and practitioners in energy fields. The young field of robust optimization is reaching maturity in many respects. It is also useful for practitioners, as it provides a number of electricity industry applications described up to working algorithms (in JuliaOpt).

Download or read book Handbook on Electricity Markets written by Glachant, Jean-Michel and published by Edward Elgar Publishing. This book was released on 2021-11-12 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.

Download or read book Stochastic Optimization in Energy Systems written by Steffen Rebennack and published by Springer Vieweg. This book was released on 2016-09-07 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview on stochastic optimization and its application in the Energy Industry. Special focus is given on hydro-thermal scheduling and, more generally, storage systems. The book begins by illuminating several approaches to deal with uncertainties (e.g., robust optimization, chance-constraints, stochastic optimization) and discusses their relations, advantages and disadvantages. Special focus is given on GAMS coded examples and the usage of the GAMS software. The book is very suitable for courses in business schools, system engineering, applied mathematics, operations research and energy producing industry.

Download or read book Comprehensive Energy Systems written by Ibrahim Dincer and published by Elsevier. This book was released on 2018-02-07 with total page 5543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive Energy Systems, Seven Volume Set provides a unified source of information covering the entire spectrum of energy, one of the most significant issues humanity has to face. This comprehensive book describes traditional and novel energy systems, from single generation to multi-generation, also covering theory and applications. In addition, it also presents high-level coverage on energy policies, strategies, environmental impacts and sustainable development. No other published work covers such breadth of topics in similar depth. High-level sections include Energy Fundamentals, Energy Materials, Energy Production, Energy Conversion, and Energy Management. Offers the most comprehensive resource available on the topic of energy systems Presents an authoritative resource authored and edited by leading experts in the field Consolidates information currently scattered in publications from different research fields (engineering as well as physics, chemistry, environmental sciences and economics), thus ensuring a common standard and language