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SE03 - SIG Sustainable5: Energy Operations: Efficient Electricity Market and Integration of Energy Storage
Time:
Sunday, 26/June/2022:
SE 17:00-18:30
Session Chair: Can Zhang Session Chair: Yangfang Helen Zhou
Location:Forum 7
Presentations
Renewable, flexible, and storage capacities: Friends or Foes?
Xiaoshan Peng, Owen Wu, Gilvan Souza
Indiana University, United States of America
Discussant: John R. Birge (University of Chicago)
We study the investment relations among the renewable, flexible, and storage capacities. We optimize the joint operations of these three types of resources. We then optimize the investment mix of these resources and examine the investment relations among them. We find that whether storage complements or substitutes other resources depends on how storage reduces operating cost and whether the potential cost reduction is constrained by charging or discharging.
Aggregating distributed energy resources: efficiency and market power
Zuguang Gao1, Khaled Alshehri2, John R. Birge1
1The University of Chicago Booth School of Business, United States of America; 2King Fahd University of Petroleum and Minerals
Discussant: Saed Alizamir (Yale University)
The rapid expansion of distributed energy resources (DERs) is one of the most significant changes to electricity systems. We study in this paper two models to aggregate DERs. In the first model, a profit-seeking aggregator procures electricity from DERs, and sells them in the wholesale market. In the second model, a uniform two-part pricing policy is applied to DER owners, while the aggregator becomes fully regulated but is guaranteed positive profit. Both models are shown to be fully efficient.
