Integrating Renewables in Electricity Markets

Morales, Juan M.; Conejo, Antonio J.; Madsen, Henrik; Pinson, Pierre; Zugno, Marco

doi:10.1007/978-1-4614-9411-9

Cited by 315 publications

(333 citation statements)

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“…It means that there is a great deal of uncertainty in the power output of these resources. Due to uncertain nature of renewable energy resources, integration of them into power systems poses major challenges to the retail electricity market [4].…”

Section: Literature Review On Fundamentals Of Retail Electricity Marketmentioning

confidence: 99%

Retail Energy Management in Electricity Markets: Structure, Challenges and Economic Aspects- a Review

Golmohamadi

Keypour

2017

Technol Econ Smart Grids Sustain Energy

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In the rapidly growing global energy consumption, electrical energy plays the important role. Environmental concerns about air pollution, fossil fuels depletion and energy crisis have led policy makers of energy systems to increase the portion of electricity in the energy portfolio. On the other hand, economic crises, especially in recent years, have increased the electricity price. With decreased purchasing power, end-use consumers are encouraged to participate in Demand Side Management (DSM) programs, e.g. Demand Response Programs (DRPs), to decrease their electricity bills. In such situation, retail energy management attracts attention in both development and improvement. This paper reviews the concept of retail energy management in modern structure of electricity markets. The objectives of this study are: a) review techno-economic studies in the literature to identify the main structure of retail energy management; b) review the different retail market studies for assessing economic performance; c) present a comprehensive evaluation about the role of DRPs in retail energy management; d) carry out an extensive survey of optimization approaches, mathematical modeling and optimization software about the retail energy management. This paper provides a template for market participants to optimize energy management in the retail side of electricity markets. The proposed structure encourages the efficient development of retail electricity market while eliminating

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Section: Literature Review On Fundamentals Of Retail Electricity Marketmentioning

confidence: 99%

Retail Energy Management in Electricity Markets: Structure, Challenges and Economic Aspects- a Review

Golmohamadi

Keypour

2017

Technol Econ Smart Grids Sustain Energy

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“…The operating reserves that use fossil fuel generating units should be kept to a minimum in order to get the maximum benefit from the deployment of the renewable resources. Therefore, the forecast of these variable generations becomes a vital tool in the operation of the power systems and electricity markets [1].…”

Section: Introductionmentioning

confidence: 99%

Random forest ensemble of support vector regression models for solar power forecasting

Abuella

Chowdhury

2017

2017 IEEE Power &Amp; Energy Society Innovative Smart Grid Technologies Conference (ISGT)

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Abstract-To mitigate the uncertainty of variable renewable resources, two off-the-shelf machine learning tools are deployed to forecast the solar power output of a solar photovoltaic system. The support vector machines generate the forecasts and the random forest acts as an ensemble learning method to combine the forecasts. The common ensemble technique in wind and solar power forecasting is the blending of meteorological data from several sources. In this study though, the present and the past solar power forecasts from several models, as well as the associated meteorological data, are incorporated into the random forest to combine and improve the accuracy of the day-ahead solar power forecasts. The performance of the combined model is evaluated over the entire year and compared with other combining techniques.

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“…Today energy saving associated with environmental protection has become prudent. The inclusion of RES into mainstream power system is inexorable because it can not only reduce the overall operating cost but can also prove to be sustainable and eco-friendly in nature [2][3]. In wake of this, efforts have been done to include solar generation with conventional thermal generation [4][5][6].…”

Section: Introductionmentioning

confidence: 99%

A PSO Based Solution Methodology for Short Term Hybrid Generation Scheduling Problem

Tiwari¹,

Dwivedi²,

M.P³

2017

IJET

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Integrating Renewables in Electricity Markets

Cited by 315 publications

References 0 publications

Retail Energy Management in Electricity Markets: Structure, Challenges and Economic Aspects- a Review

Retail Energy Management in Electricity Markets: Structure, Challenges and Economic Aspects- a Review

Random forest ensemble of support vector regression models for solar power forecasting

A PSO Based Solution Methodology for Short Term Hybrid Generation Scheduling Problem

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