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Optimal subhourly electricity resource dispatch under multiple price signals with high renewable generation availability

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  • Chassin, David P.
  • Behboodi, Sahand
  • Djilali, Ned

Abstract

This paper proposes a system-wide optimal resource dispatch strategy that enables a shift from a primarily energy cost-based approach, to a strategy using simultaneous price signals for energy, power and ramping behavior. A formal method to compute the optimal sub-hourly power trajectory is derived for a system when the price of energy and ramping are both significant. Optimal control functions are obtained in both time and frequency domains, and a discrete-time solution suitable for periodic feedback control systems is presented. The method is applied to North America Western Interconnection for the planning year 2024. It is shown that an optimal dispatch strategy that simultaneously considers both the cost of energy and the cost of ramping leads to significant cost savings in systems with high levels of renewable generation: the savings exceed 25% of the total system operating cost for a 50% renewables scenario.

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  • Chassin, David P. & Behboodi, Sahand & Djilali, Ned, 2018. "Optimal subhourly electricity resource dispatch under multiple price signals with high renewable generation availability," Applied Energy, Elsevier, vol. 213(C), pages 262-271.
    • Handle: RePEc:eee:appene:v:213:y:2018:i:c:p:262-271
    DOI: 10.1016/j.apenergy.2018.01.041
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    References listed on IDEAS

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    1. Cherrelle Eid & Paul Codani & Yurong Chen & Yannick Perez & Rudi Hakvoort, 2015. "Aggregation of demand side flexibility in a smart grid: A review for European market design," Post-Print hal-01230914, HAL.
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    7. Behboodi, Sahand & Chassin, David P. & Djilali, Ned & Crawford, Curran, 2018. "Transactive control of fast-acting demand response based on thermostatic loads in real-time retail electricity markets," Applied Energy, Elsevier, vol. 210(C), pages 1310-1320.
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    Cited by:

    1. Wang, Yongpei & Yan, Qing & Luo, Yifei & Zhang, Qian, 2023. "Carbon abatement of electricity sector with renewable energy deployment: Evidence from China," Renewable Energy, Elsevier, vol. 210(C), pages 1-11.
    2. Wyman-Pain, Heather & Bian, Yuankai & Thomas, Cain & Li, Furong, 2018. "The economics of different generation technologies for frequency response provision," Applied Energy, Elsevier, vol. 222(C), pages 554-563.
    3. Bhattacharya, Saptarshi & Pennock, Shona & Robertson, Bryson & Hanif, Sarmad & Alam, Md Jan E. & Bhatnagar, Dhruv & Preziuso, Danielle & O’Neil, Rebecca, 2021. "Timing value of marine renewable energy resources for potential grid applications," Applied Energy, Elsevier, vol. 299(C).
    4. Abdollahi, Elnaz & Wang, Haichao & Lahdelma, Risto, 2019. "Parametric optimization of long-term multi-area heat and power production with power storage," Applied Energy, Elsevier, vol. 235(C), pages 802-812.

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