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Distributed Energy Resources: New Markets and New Products

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Title:Distributed Energy Resources: New Markets and New Products
Authors:Tabors, Richard
Caramanis, Michael
Ntakou, Eli
Parker, Geoffrey
Van Alstyne, Marshall
show 2 moreCentolella, Paul
Hornby, Rick
show less
Keywords:Distributed Energy
Distributed Locational Marginal Prices
NY REV
Date Issued:04 Jan 2017
Abstract:The rapid introduction of Distributed Energy Resources (DER) into the retail/distribution sector of the electric power system has raised questions concerning both the economics and control of the power system. This paper presents one market paradigm that builds upon extension of the logic of Locational Marginal Pricing into the distribution level arguing that this extension is necessary if there are to be competitive forces that bring new technologies to market while at the same time assuring the reliability of service. We introduce three concepts: first that there are only three core products (real power, reactive power and reserves) and that all other products are combinations of these; second that it is necessary to calculate Distributed Locational Marginal Prices (DLMP) in order to value any DER; and third that for there to be a market for DER it should be structured as an economic platform.
Pages/Duration:10 pages
URI:http://hdl.handle.net/10125/41519
ISBN:978-0-9981331-0-2
DOI:10.24251/HICSS.2017.362
Rights:Attribution-NonCommercial-NoDerivatives 4.0 International
https://creativecommons.org/licenses/by-nc-nd/4.0/
Appears in Collections: Integrating Distributed or Renewable Resources Minitrack


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