NDLI: Optimal scheduling of independently operated, locally controlled energy storage systems as dispatchable assets in a competitive electricity market

Content Provider	IET Digital Library
Author	Khani, Hadi Zadeh, Mohammad R. Dadash Varma, Rajiv K.
Abstract	Independently operated energy storage can exploit arbitrage opportunities available due to inter-temporal variation of electricity prices. Storage can be utilised as a dispatchable or non-dispatchable asset. In this study, a new optimal scheduling algorithm is proposed to enable independently operated, locally controlled storage to accept dispatch instructions issued by independent system operators (ISOs). Storage in this case is referred to as dispatchable storage. In addition, a new index is proposed to measure the storage dispatchability. While the operation of locally controlled storage is optimally scheduled at the owner's end, using the proposed algorithm, storage is fully dispatchable at the ISO's end. Dispatchable storage units have great potential to enhance the flexibility of electric grids and are key elements envisioned to enable smart grid realisation. The proposed algorithm outperforms previous algorithms in which storage is either locally controlled at the owner's end and cannot optimally accept ISO's instructions; or storage is centrally controlled by the grid operator to achieve some technical objectives. The efficacy and feasibility of the proposed algorithm are validated using real-world data. It is demonstrated that the proposed algorithm can enable the storage to accept all ISO's instructions. Revenue values of dispatchable and non-dispatchable storage are computed and compared.
Starting Page	1360
Ending Page	1369
Page Count	10
ISSN	17518687
Volume Number	11
e-ISSN	17518695
Issue Number	Issue 6, Apr (2017)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/11/6
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2016.0231
Journal	IET Generation, Transmission & Distribution
Publisher Date	2017-01-05
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Competitive Electricity Market Dispatchable Asset Dispatchable Storage Unit Electric Grid Flexibility Enhancement Electricity Price Intertemporal Variation Energy Storage Independent System Operator Independently Operated Locally Controlled Energy Storage System Nondispatchable Asset Optimal Scheduling Algorithm Power Generation Dispatch Power Generation Economics Power Generation Scheduling Power Market Power System Economics Power System Managemen Power System Operation Pricing Smart Grid Realisation Smart Power Grid Storage Dispatchability
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Strategic equilibrium of economic dispatch in smart grid with a bi-level game approach

Development of energy and reserve pre-dispatch and re-dispatch models for real-time price risk and reliability assessment

Short-term scheduling problem in smart grid considering reliability improvement in bad weather conditions

Collaborative demand response in smart electric grid with virtual system operator

Distributed optimal energy scheduling based on a novel PD pricing strategy in smart grid

Optimal energy management strategy in microgrids with mixed energy resources and energy storage system

Modified elephant herding optimisation for economic generation co-ordination of DERs and BESS in grid connected micro-grid

Framework of locality electricity trading system for profitable peer-to-peer power transaction in locality electricity market

Optimal operating control strategy for biogas generation under electricity spot market

Optimal scheduling of independently operated, locally controlled energy storage systems as dispatchable assets in a competitive electricity market

Similar Documents

Strategic equilibrium of economic dispatch in smart grid with a bi-level game approach

Development of energy and reserve pre-dispatch and re-dispatch models for real-time price risk and reliability assessment

Short-term scheduling problem in smart grid considering reliability improvement in bad weather conditions

Collaborative demand response in smart electric grid with virtual system operator

Distributed optimal energy scheduling based on a novel PD pricing strategy in smart grid

Optimal energy management strategy in microgrids with mixed energy resources and energy storage system

Modified elephant herding optimisation for economic generation co-ordination of DERs and BESS in grid connected micro-grid

Framework of locality electricity trading system for profitable peer-to-peer power transaction in locality electricity market

Optimal operating control strategy for biogas generation under electricity spot market

Optimal scheduling of independently operated, locally controlled energy storage systems as dispatchable assets in a competitive electricity market