Integrated techno-economic modeling, flexibility analysis, and business case assessment of an urban virtual power plant with multi-market co-optimization

Han, Wenhua; Riaz, Shariq; Mancarella, Pierluigi

doi:10.1016/j.apenergy.2019.114142

Cited by 98 publications

(34 citation statements)

References 17 publications

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“…The purpose of the virtual power plant is to relieve the grid by intelligently distributing the power generated by individual units during peak load periods. In addition, VPPs participate in wholesale energy markets to ensure the flexibility that is needed in a decarbonized energy system rich in renewable energy sources [3,42,43].…”

Section: Investments In the Field Of Energy Efficiencymentioning

confidence: 99%

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Borowski

2021

Energies

249

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In the 21st century, it is becoming increasingly clear that human activities and the activities of enterprises affect the environment. Therefore, it is important to learn about the methods in which companies minimize the negative effects of their activities. The article presents the steps taken and innovative actions carried out by enterprises in the energy sector. The article analyzes innovative activities undertaken and implemented by enterprises from the energy sector. The relationships between innovative strategies, including, inter alia, digitization, and Industry 4.0 solutions, in the development of companies and the achieved results concerning sustainable development and environmental impact. Digitization has far exceeded traditional productivity improvement ranges of 3–5% per year, with a clear cost improvement potential of well above 25%. Enterprises on a large scale make attempts to increase energy efficiency by implementing the state-of-the-art innovative technical and technological solutions, which increase reliability and durability (material and mechanical engineering). Digitization of energy companies allows them to reduce operating costs and increases efficiency. With digital advances, the useful life of an energy plant can be increased up to 30%. Advanced technologies, blockchain, and the use of intelligent networks enables the activation of prosumers in the electricity market. Reducing energy consumption in industry and at the same time increasing energy efficiency for which the European Union is fighting in the clean air package for all Europeans have a positive impact on environmental protection, sustainable development, and the implementation of the decarbonization program.

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Section: Investments In the Field Of Energy Efficiencymentioning

confidence: 99%

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Borowski

2021

Energies

249

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“…These data‐driven models, which have already been adopted by the system operator in Australia to dynamically size operating reserves (Fahiman et al, 2019), can, and will, be integrated into DRS and VPP portfolios, with the potential to effectively provide frequency support services to improve system stability. Distribution grid‐based energy trading platforms (e.g., peer to peer energy trading between consumers and prosumers) are also now emerging (AEMO‐ENA, 2019), potentially leading to ancillary service markets being implemented within these distribution grids, especially via VPP schemes (Wang et al, 2020). More systematic monitoring of consumption via smart meters and relevant data‐driven modeling can also introduce new options to provide system and local network support via “differentiated reliability” schemes from the demand side (Y. Zhou, Mancarella, & Mutale, 2016).…”

Section: Emerging Technologies and Strategies For Improving Power Grid Stabilitymentioning

confidence: 99%

Power system stability in the transition to a low carbon grid: A techno‐economic perspective on challenges and opportunities

Meegahapola

Mancarella

Flynn

et al. 2021

WIREs Energy & Environment

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Increasing power system stability challenges are being witnessed worldwide, while transitioning toward low‐carbon grids with a high‐share of power electronic converter (PEC)‐interfaced renewable energy sources (RESs) and distributed energy resources (DERs). Concurrently, new technologies and operational strategies are being implemented or proposed to tackle these challenges. Since electricity grids are deregulated in many jurisdictions, such technologies need to be integrated within a market framework, which is often a challenge in itself due to inevitable regulatory delays in updating grid codes and market rules. It is also highly desirable to ensure that an economically feasible optimal technology mix is integrated in the power system, without imposing additional burdens on electricity consumers. This article provides a comprehensive overview of emerging power system stability challenges posed by PEC‐interfaced RES and DER, particularly related to low inertia and low system strength conditions, while also introducing new technologies that can help tackle these challenges and discussing the need for suitable techno‐economic considerations to integrate them into system and market operation. As a key point, the importance of recognizing the complexity of system services to guarantee stability in low‐carbon grids is emphasized, along with the need to carefully integrate new grid codes and market mechanisms in order to exploit the full benefits of emerging technologies in the transition toward ultra‐low carbon futures. This article is categorized under: Energy Systems Economics > Economics and Policy Energy Systems Analysis > Systems and Infrastructure Energy and Development > Systems and Infrastructure

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“…As discussed in [20], most studies generally describe as (steady-state) flexibility region the feasible operational region (FOR) of an electrical plant or system. As discussed in [24], similar modelling can be applied to steady-state operational limitations of a component or plant in the multi-dimensional space of the multiple energy vectors involved in the analysis, for example, electrical active and reactive power, fuel (e.g., natural gas or hydrogen), and heat.…”

Section: F Visualization Of Mes Operational Envelopes: Multi-energy Flexibility Mapsmentioning

confidence: 99%

“…Therefore, some areas of the flexibility regions will no longer belong to a feasible set, and so a feasibility region that is a sub-set of the previously defined flexibility region will be defined. Furthermore, it will no longer be possible to adopt a vanilla Minkowski summation to build such feasibility regions, and specific algorithms that also involve the detailed energy flow equations will be needed (see for example [20]). Finally, as a key effect of the presence of network constraints, the overall DMES flexibility region will be segmented into different local flexibility regions due to the presence of constraints even in just one of the energy vectors.…”

Section: Impact Of Network Constraints On Multi-energy Flexibilitymentioning

confidence: 99%

Flexibility From Distributed Multienergy Systems

et al. 2020

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Ñ Multi-Energy Systems (MES), in which multiple energy vectors are integrated and optimally operated, are key assets in low-carbon energy systems. Multi-energy interactions of distributed energy resources via different energy networks generate the so-called distributed MES (DMES). While it is now well recognised that DMES can provide power system flexibility by shifting across different energy vectors, a systematic discussion of the main features of such flexibility is needed. This paper presents a comprehensive overview for DMES modelling and characterization for flexibility applications. The concept of Òmulti-energy nodeÓ is introduced to extend the power node model, used for electrical flexibility, to the multi-energy case. A general definition of DMES flexibility is given, and a general mathematical and graphical modelling framework, based on multi-dimensional maps, is formulated to describe the operational characteristics of individual MES and aggregate DMES, including the role of multi-energy networks in enabling or constraining flexibility. Several tutorial examples are finally presented with illustrative case studies on current and future DMES practical applications.

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Integrated techno-economic modeling, flexibility analysis, and business case assessment of an urban virtual power plant with multi-market co-optimization

Cited by 98 publications

References 17 publications

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Power system stability in the transition to a low carbon grid: A techno‐economic perspective on challenges and opportunities

Flexibility From Distributed Multienergy Systems

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