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Continuous-time Look-Ahead Scheduling of Energy Storage in Regulation Markets

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Title:Continuous-time Look-Ahead Scheduling of Energy Storage in Regulation Markets
Authors:Khatami, Roohallah
Parvania, Masood
Khargonekar, Pramod
Keywords:Policy, Markets, and Computation
Electric Energy Systems
continuous-time optimization, energy storage, electricity markets, regulation
Date Issued:08 Jan 2019
Abstract:Energy storage (ES) devices offer valuable flexibility services, including regulation reserve, in power systems operation that could improve the reliability and cost-efficiency of systems with high penetration of renewable energy resources. In this paper, a continuous-time look-ahead regulation capacity scheduling model is proposed, which more accurately models and schedules the regulation capacity trajectories provided by generating units and ES devices in real-time power systems operation. A function space solution method is proposed to reduce the dimensionality of the continuous-time problem by modeling the parameter and decision trajectories in a function space formed by Bernstein polynomials, which converts the continuous-time problem into a linear programming problem. Numerical results, conducted on the IEEE Reliability Test System, show lower operation cost and less regulation scarcity events in real-time power systems operation due to efficient deployment of the ES flexibility in regulation markets.
Pages/Duration:9 pages
Rights:Attribution-NonCommercial-NoDerivatives 4.0 International
Appears in Collections: Policy, Markets, and Computation

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