Emerging Models for Microgrid Finance: Driven by the need to deliver value to end users

Burr, M.T.; Zimmer, Michael J.; Warner, Guy; Meloy, Brian; Bertrand, James; Levesque, Walter; McDonald, John D.

doi:10.1109/mele.2013.2297022

Cited by 11 publications

(5 citation statements)

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“…This legal issue arises due to uncertainties regarding whether the MG is an oversight subject for the state regulatory agency or considered as an electrical distribution utility and does the legal framework is sufficient to govern the generation, distribution, sale, and purchase of MG electricity. The reports about MG in the context of the existing legal framework can be found in [47], [221], and [222]. Furthermore, this legal issue stemmed due to the lack of standardization for connecting DERs with the grid, and the connection requirements vary from utility to utility greatly.…”

Section: E Governance Issuesmentioning

confidence: 99%

Decentralized, Democratized, and Decarbonized Future Electric Power Distribution Grids: A Survey on the Paradigm Shift From the Conventional Power System to Micro Grid Structures

Shaukat

Islam

Rahman³

et al. 2023

IEEE Access

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Micro-Grid (MG), a paradigm shift in conventional distribution power systems, facilitates the integration of many Renewable Energy Resources (RERs), storage units, and loads. The key catalyst behind this emerging paradigm is the increased attention to environment-energy sustainability nexus. This novel concept exhibits various attractive features such as sustainability, reliability, resilience, improved power quality, energy security, and liberalization of electric service industries. However, the integration of RER units and load participation into the MG brings various challenges to the stability and operation of the system. These challenges arise as a consequence of the intermittent nature of RERs due to their stochastic behavior and increased level of non-linearity associated with smart load participation. Furthermore, in recent years, the development and deployment of RER in MG networks have demonstrated exponential growth. Therefore, in order to achieve a holistic analysis, a comprehensive review study about various aspects of MG should be investigated. In this regard, this rigorous survey paper presents the meticulous study of various aspects, historical evolution, and key enabling yet transdisciplinary technologies of MG, such as various components, generation resources, load classification, communication infrastructure, energy management, control and optimization, operational modes, and various frameworks, configurations, architectures, and topologies-including the emerging concept of Networked MG with flexible boundaries. This study also reviewed various storage and protection systems in MG, considering the attention to their contributions to the stability of the system. This review also underscores many key issues, challenges, and factors related to the sustainable development of the MG system. Lastly, an all-inclusive cross-sectoral analysis that includes cyber-physical systems, power quality, information and data management, conversion systems, synthetic inertia, and some governance issues has been provided, along with the future directions, progression, and latest development in the field of MG. This survey, therefore, greatly assists and enables researchers to study and analyze the development and prospect of MG technology conveniently.INDEX TERMS Micro-grid architectures, communications technology, load classification, power generation resources, storage technology.The associate editor coordinating the review of this manuscript and approving it for publication was Alexander Micallef .

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Section: E Governance Issuesmentioning

confidence: 99%

Decentralized, Democratized, and Decarbonized Future Electric Power Distribution Grids: A Survey on the Paradigm Shift From the Conventional Power System to Micro Grid Structures

Shaukat

Islam

Rahman³

et al. 2023

IEEE Access

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“…Substantial applied research has been done on decentralized generation, from an engineering or optimization perspective: Georgilakis and Hatziargyriou (2013), Ahn et al (2013) and Kraning et al (2014) provide insights into the optimal dispatch of decentralized generation. Likewise, operational research on energy communities and micro-grids has also been very active recently, showing an increased interest in these business models (Olivares et al, 2014;Basak, 2012;Steinheimer et al, 2012;Matenli et al, 2016), of which the benefits have been widely stressed, both theoretically (Lopes et al, 2016;Hyams et al, 2011;Burr et al, 2013;USEF, 2019) and empirically (Lidula andRajapakse, 2011 andComodi et al, 2015). All of the previously mentioned papers envisage rather sophisticated energy communities endowed with technologies such as storage or demand-response.…”

Section: Literature Review and Structure Of The Papermentioning

confidence: 99%

On the Viability of Energy Communities

Abada¹,

Ehrenmann²,

Lambin³

2020

The Energy Journal

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Following the development of decentralized production technologies, energy communities have become a topic of increased interest. While the potential benefits have been described, we use the framework of cooperative game theory to test the ability of such communities to adequately share the gains. Indeed, despite the potential value created by such coalitions, there is no guarantee that they will be viable: a subset of participants may find it profitable to exit the community and create another one of their own. We take the case of a neighborhood, having access to a limited resource e.g. a shared roof or piece of land which they can exploit if they invest in some renewable production capacity. By joining the community, participants also enjoy aggregation gains in the form of reduced network fees. We find conditions depending on the structure of renewable installation costs, on the magnitude of the aggregation effect and coordination costs and, most importantly, on the chosen sharing rule, under which the whole energy community is stable. Efficiency could require the intervention of a social planner or a change in network tariff structures.

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“…Microgrids have seen as challenging to commercially evaluate for several reasons. Firstly, a microgrid represents a series of assets and infrastructure that come from different value streams, and during operation, a microgrid may go through several phases (generation, control, independence) but these phases are not distinct and often overlap [4]. In addition, not all cost and benefits can be taken into account by investors because the cost and benefits may be associated with a broad range of stakeholders.…”

Section: Existing Economic Studiesmentioning

confidence: 99%

“…Harnessing renewable energy has been an ongoing challenge because of its unstable supply, yet microgrids have been considered to be a solution for effectively managing renewable energy generators and could also reduce pollution and lower costs with the aid of energy storage systems and appropriate optimization [3]. Microgrids can generally comprise 20-25& of on-site renewable energy in terms of capacity, but given the right demand and supply conditions, a higher renewable energy proportion is also possible [4]. Owing to its small-scale nature, its application is not limited to specialized operation by professional grid owners, but can be implemented at commercial and residential building sites [5,6], meaning that the public is engaged as stakeholders in the electricity market than ever.…”

mentioning

confidence: 99%

Renewable energy microgrids: Economic evaluation and decision making for government policies to contribute to affordable and clean energy

et al. 2020

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Emerging Models for Microgrid Finance: Driven by the need to deliver value to end users

Cited by 11 publications

References 0 publications

Decentralized, Democratized, and Decarbonized Future Electric Power Distribution Grids: A Survey on the Paradigm Shift From the Conventional Power System to Micro Grid Structures

Decentralized, Democratized, and Decarbonized Future Electric Power Distribution Grids: A Survey on the Paradigm Shift From the Conventional Power System to Micro Grid Structures

On the Viability of Energy Communities

Renewable energy microgrids: Economic evaluation and decision making for government policies to contribute to affordable and clean energy

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