Competitive energy storage in the presence of renewables

IEEE Transactions on Power Systems

Volumn 28, Issue 2, 2013, Pages 985-986

  Taylor, Joshua A ^a   Callaway, Duncan S ^b   Poolla, Kameshwar ^a  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Energy storage; Game theory; Inventory control; Reserve markets; Terms Distributed generation

Indexed keywords

CONVENTIONAL GENERATORS; ENERGY IMBALANCES; NASH EQUILIBRIA; RENEWABLE SOURCES; RENEWABLES; RESERVE MARKETS; STORAGE SCHEDULING; STRATEGIC EFFECT;

COMMERCE; DISTRIBUTED POWER GENERATION; GAME THEORY; INVENTORY CONTROL; OPTIMIZATION;

ENERGY STORAGE;

EID: 84885422822     PISSN: 08858950     EISSN: None     Source Type: Journal    
DOI: 10.1109/TPWRS.2012.2210573     Document Type: Article

References (52)

1. T. Ackermann, G. Andersson, and L. Soder, "Distributed generation: A definition," Elect. Power Syst. Res., vol. 57, no. 3, pp. 195-204, 2001.
2. R. Lasseter, "Microgrids," in Proc. IEEE Power Engineering Society Winter Meeting, 2002, 2002, vol. 1, pp. 305-308.
3. P. Barker and R. De Mello, "Determining the impact of distributed generation on power systems. I. Radial distribution systems," in Proc. IEEE Power Engineering Society Summer Meeting, 2000, Jul. 2000, vol. 3, pp. 1645-1656.
4. H. L. Willis, Distributed Power Generation: Planning and Evaluation. Boca Raton, FL: CRC, 2000.
5. M. R. Patel, Wind and Solar Power Systems: Design, Analysis, and Operation. Boca Raton, FL: CRC, 2006.
6. J. Barton and D. Infield, "Energy storage and its use with intermittent renewable energy," IEEE Trans. Energy Convers., vol. 19, no. 2, pp. 441-448, Jun. 2004.
7. J. Carrasco, L. Franquelo, J. Bialasiewicz, E. Galvan, R. Guisado, M. Prats, J. Leon, and N. Moreno-Alfonso, "Power-electronic systems for the grid integration of renewable energy sources: A survey," IEEE Trans. Ind. Electron., vol. 53, no. 4, pp. 1002-1016, Jun. 2006.
8. H. Ibrahim, A. Ilinca, and J. Perron, "Energy storage systems - Characteristics and comparisons," Renew. Sustain. Energy Rev., vol. 12, no. 5, pp. 1221-1250, 2008.
9. P. Denholm and R. Sioshansi, "The value of compressed air energy storage with wind in transmission-constrained electric power systems," Energy Policy vol. 37, no. 8, pp. 3149-3158, 2009. [Online]. Available: http://www.sciencedirect.com/science/article/ pii/S0301421509002328.
10. E. Allen and M. Ilic, "Reserve markets for power systems reliability," IEEE Trans. Power Syst., vol. 15, no. 1, pp. 228-233, Feb. 2000.
11. T. Zheng and E. Litvinov, "Ex post pricing in the co-optimized energy and reserve market," IEEE Trans. Power Syst. on, vol. 21, no. 4, pp. 1528-1538, Nov. 2006.
12. D. Gan and E. Litvinov, "Energy and reserve market designs with explicit consideration to lost opportunity costs," IEEE Trans. Power Syst., vol. 18, no. 1, pp. 53-59, Feb. 2003.
13. C. Bueno and J. Carta, "Wind powered pumped hydro storage systems, ameans of increasing the penetration of renewable energy in the canary islands," Renew. Sustain. Energy Rev., vol. 10, no. 4, pp. 312-340, 2006.
14. P. Ribeiro, B. Johnson, M. Crow,A.Arsoy, andY. Liu, "Energy storage systems for advanced power applications," Proc. IEEE, vol. 89, no. 12, pp. 1744-1756, Dec. 2001.
15. California ISO, "Regulation energy management draft final proposal," Jan. 2011.
16. B. P. Corp, "Energy storage: Regulation issues," ERCOT Emerging Technologies Working Group, 2011.
17. J. Bushnell, S. M. Harvey, and B. F. Hobbs, "Opinion on pay-for-performance regulation," Mar. 2012. [Online]. Available: http://www.caiso.com/Documents/MSC-FinalOpinion-Pay-for-PerformanceRegulation. pdf.
18. G. Bathurst and G. Strbac, "Value of combining energy storage and wind in short-term energy and balancing markets," Elect. Power Syst. Res., vol. 67, no. 1, pp. 1-8, 2003.
19. J. B. Bremnes, "Probabilistic wind power forecasts using local quantile regression," Wind Energy, vol. 7, no. 1, pp. 47-54, 2004.
20. P. Pinson, C. Chevallier, and G. Kariniotakis, "Trading wind generation from short-term probabilistic forecasts of wind power," IEEE Trans. Power Syst., vol. 22, no. 3, pp. 1148-1156, Aug. 2007.
21. J. Usaola, O. Ravelo, G. Gonzalez, F. Soto, C. Davila, and B. Diaz- Guerra, "Benefits for wind energy in electricity markets from using short term wind power prediction toolsa simulation study," Wind Eng., vol. 28, no. 1, pp. 119-128, Feb. 2004.
22. S. Borenstein, J. Bushnell, C. R. Knittel, and C. Wolfram, "Inefficiencies and market power in financial arbitrage: A study of California's electricity markets," J. Ind. Econ., vol. 56, no. 2, pp. 347-378, 2008.
23. K. J. Arrow, T. Harris, and J. Marschak, "Optimal inventory policy," Econometrica, vol. 19, no. 3, pp. 250-272, 1951.
24. R. Bellman, I. Glicksberg, and O. Gross, "On the optimal inventory equation," Manage. Sci., vol. 2, no. 1, pp. 83-104, 1955.
25. R. Bellman, Dynamic Programming. New York: Dover, Mar. 2003.
26. E. A. Silver, D. F. Pyke, and R. Peterson, Inventory Management and Production Planning and Scheduling, 3rd ed. New York: Wiley, 1998.
27. E. Porteus, Foundations of Stochastic Inventory Theory, ser. Stanford Business Books. Stanford, CA: Stanford Univ. Press, 2002.
28. S. Axsäter, Inventory Control, ser. International Series in Operations Research & Management Science. New York: Springer, 2006.
29. M. Chen, I.-K. Cho, and S. P. Meyn, "Reliability by design in distributed power transmission networks," Automatica, vol. 42, no. 8, pp. 1267-1281, 2006.
30. J. H. Kim and W. B. Powell, "Optimal energy commitments with storage and intermittent supply," Oper. Res., vol. 59, no. 6, pp. 1347-1360, Nov./Dec. 2011.
31. N. Löhndorf and S. Minner, "Optimal day-ahead trading and storage of renewable energies: An approximate dynamic programming approach," Energy Syst., vol. 1, pp. 61-77, 2010.
32. Y. Zhou, A. A. Scheller-Wolf, N. Secomandi, and S. Smith, "Managing wind-based electricity generation with storage and transmission capacity," 2011. [Online]. Available: http://dx.doi.org/10.2139/ssrn. 1962414.
33. S. Vosen and J. Keller, "Hybrid energy storage systems for stand-alone electric power systems: Optimization of system performance and cost through control strategies," Int. J. Hydro. Energy, vol. 24, no. 12, pp. 1139-1156, 1999.
34. F. C. Schweppe, M. C. Caramanis, R. D. Tabors, and R. E. Bohn, Spot Pricing of Electricity. Boston, MA: Kluwer, 1988.
35. T. Gedra, "On transmission congestion and pricing," IEEE Trans. Power Syst., vol. 14, no. 1, pp. 241-248, Feb. 1999.
36. M. Korpaas, A. T. Holen, and R. Hildrum, "Operation and sizing of energy storage for wind power plants in a market system," Int. J. Elect. Power Energy Syst., vol. 25, no. 8, pp. 599-606, 2003, 14th Power Systems Computation Conference.
37. E. Bitar, R. Rajagopal, P. Khargonekar, and K. Poolla, "The role of co-located storage forwind power producers in conventional electricity markets," in Proc. American Control Conf. (ACC), 2011, Jun. 2011, pp. 3886-3891.
38. PIER, "2020 strategic analysis of energy storage in California," Dec. 2010.
39. DOE, "Energy storage program planning document," Feb. 2011.
40. D. P. Bertsekas, Dynamic Programming and Optimal Control, Two Volume Set. Nashua, NH: Athena Scientific, 2005.
41. N. C. Petruzzi and M. Dada, "Pricing and the newsvendor problem: A review with extensions," Oper. Res., vol. 47, no. 2, pp. 183-194, 1999.
42. F. Hildebrand, Introduction to Numerical Analysis, ser. Dover Books on Advanced Mathematics. New York: Dover, 1987.
43. S. Lemofouet and A. Rufer, "A hybrid energy storage system based on compressed air and supercapacitors with maximum efficiency point tracking (mept)," IEEE Trans. Ind. Electron., vol. 53, no. 4, pp. 1105-1115, Jun. 2006.
44. J. F. Nash, "Non-cooperative games," Ann. Math., vol. 54, no. 2, pp. 286-295, Sep. 1951.
45. J. C. Harsanyi, "Games with incomplete information played by "Bayesian" players, I-III. Part I. The basic model," Manage. Sci., vol. 14, no. 3, pp. 159-182, 1967.
46. G. Debreu, "A social equilibrium existence theorem," Proc. Nat. Acad. Sci. USA, vol. 38, no. 10, pp. 886-893, Oct. 1952.
47. I. L. Glicksberg, "A further generalization of the Kakutani fixed point theorem, with application to Nash equilibrium points," Proc. Amer. Math. Soc., vol. 3, no. 1, pp. 170-174, 1952.
48. K. Fan, "Fixed-point and minimax theorems in locally convex topological linear spaces," Proc. Nat. Acad. Sci. USA, vol. 38, no. 2, pp. 121-126, 1952.
49. J. B. Rosen, "Existence and uniqueness of equilibrium points for concave n-person games," Econometrica, vol. 33, no. 3, pp. 520-534, 1965.
50. T. Roughgarden, Selfish Routing and the Price of Anarchy. Cambridge, MA: MIT Press, 2005.
51. A. Skartveit and J. Olseth, "The probability density and autocorrelation of short-term global and beam irradiance," Solar Energy, vol. 49, no. 6, pp. 477-487, 1992.
52. N. Fabra, N.-H. von der Fehr, and D. Harbord, "Modeling electricity auctions," Electr. J., vol. 15, no. 7, pp. 72-81, 2002.