Integration of contracted renewable energy and spot market supply to serve flexible loads

Papavasiliou, Anthony;Oren, Shmuel S.
(2011) Congress of the International Federation of Automatic Control — Location: Milan, Italy

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  • Papavasiliou, AnthonyUCLouvain
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  • Oren, Shmuel S.University of California at Berkeley
    Author
Abstract
We present a contract for integrating renewable energy supply and electricity spot markets for serving deferrable electric loads in order to mitigate renewable energy intermittency. The contract which we describe results in a stochastic optimal control problem for minimizing the cost of serving flexible load. We solve the optimal control problem by using a recombinant lattice for modeling renewable power supply and electricity spot price uncertainty. We comparevarious control policies, and we analyze the sensitivity of our results with respect to various problem parameters.
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Papavasiliou, A., & Oren, S. S. (2011). Integration of contracted renewable energy and spot market supply to serve flexible loads. Congress of the International Federation of Automatic Control, Milan, Italy. https://hdl.handle.net/2078.5/176562