Energy storage can facilitate the integration of renewable energy resources by providing arbitrage and ancillary services. Jointly optimizing energy and ancillary services in a centralized electricity market reduces the system's operating cost and …
As energy storage systems (ESSs) become economically competitive, it is natural to expect significant increases in deployments in the near future. Consequently, these systems will form a nontrivial part of the energy market and may exhibit strategic …
Reduced installation and operating costs give energy storage systems an opportunity to participate actively and profitably in electricity markets. In addition to providing ancillary services, energy storage systems can also arbitrage temporal price …
As the cost of battery energy storage continues to decline, we are likely to see the emergence of merchant energy storage operators. These entities will seek to maximize their operating profits through strategic bidding in the day-ahead electricity …
Stochastic programming methods have been proven to deal effectively with the uncertainty and variability of renewable generation resources. However, the quality of the solution that they provide (as measured by cost and reliability metrics) depends …
The large-scale integration of a grid-scale energy storage and the increasing penetration of renewable resources motivate the development of techniques for determining the optimal ratings and locations of storage devices. This paper proposes a method …
Transmission expansion and energy storage increase the flexibility of power systems and, hence, their ability to deal with uncertainty. Transmission lines have a longer lifetime and a more predictable performance than energy storage, but they require …
Managing uncertainty caused by the large-scale integration of wind power is a challenge in both the day-ahead planning and real-time operation of a power system. Increasing system flexibility is the key factor in preserving operational reliability. …