Energy Storage in Energy Markets

Uncertainties, Modelling, Analysis and Optimization

1st Edition - April 30, 2021
Editors: Behnam Mohammadi-Ivatloo, Amin Mohammadpour Shotorbani, Amjad Anvari-Moghaddam
Language: English
Paperback ISBN:
9 7 8 - 0 - 1 2 - 8 2 0 0 9 5 - 7
eBook ISBN:
9 7 8 - 0 - 1 2 - 8 2 0 3 8 3 - 5

Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience… Read more

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Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience of researchers and practitioners. The book provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and the impacts of energy storage integration. Heavily referenced and easily accessible to policymakers, developers, engineer, researchers and students alike, this comprehensive resource aims to fill the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce.

Chapters elaborate on energy market fundamentals, operations, energy storage fundamentals, components, and the role and impact of storage systems on energy systems from different aspects, such as environmental, technical and economics, the role of storage devices in uncertainty handling in energy systems and their contributions in resiliency and reliability improvement.

Cover image
Title page
Table of Contents
Copyright
Contributors
Introduction
Chapter 1. Energy market fundamentals and overview
1. History of electricity markets
2. Challenges of energy markets
3. Different energy market services
4. Fundamental features of the energy market
5. Conclusions
Chapter 2. Energy storage fundamentals and components
1. Introduction
2. Types of EES technologies
3. The operation of EES in power markets
4. The current stage of energy storage systems in the world
5. Conclusions
Chapter 3. Overview of energy storage systems for wind power integration
1. Introduction
2. Electrical energy storage systems
3. Energy storage system application
4. Different types of energy storage systems
5. Energy storage systems in wind turbines
6. Chapter summary
Chapter 4. Optimization of energy storage systems in energy markets
1. Introduction
2. Problem formulation
3. Modeling uncertainties
4. Systems understudy
5. Simulation and numerical results
6. Conclusion
Chapter 5. IGDT-based optimal low-carbon generation dispatch of power system integrated with compressed air energy storage systems
1. Introduction
2. Problem formulation
3. Input data and results
4. Conclusion
Chapter 6. Energy vehicles as means of energy storage: impacts on energy markets and infrastructure
1. Introduction
2. Overall picture of study
3. Problem formulation
4. Case study and simulation results
5. Conclusions
Chapter 7. Application of electric vehicles as mobile energy storage systems in the deregulated active distribution networks
1. Introduction
2. A modern distribution system: structure and mathematical modeling
3. The operation framework
4. EVAGs' activity in an HLRC
5. The link between MATLAB and GAMS
6. Simulation results
Chapter 8. Economic analysis of energy storage systems in multicarrier microgrids
1. Introduction
2. System description
3. Scenario-based problem formulation
4. Results and discussion
5. Conclusion
Chapter 9. Optimal resilient scheduling of multicarrier energy distribution system considering energy storages and plug-in electric hybrid vehicles contribution scenarios
Nomenclature
1. Introduction
2. Problem modeling and formulation
3. Solution algorithm
4. Numerical results
5. Conclusions
Chapter 10. Optimal participation of electric vehicles aggregator in energy and flexible ramping markets
1. Introduction
2. Problem formulation
3. Method of scenario generation
4. Simulation results
5. Conclusions
Chapter 11. Electric vehicles as means of energy storage: participation in ancillary services markets
1. Introduction
2. EVs as energy storage systems
3. Review on power regulation methods
4. Case study
5. Conclusion
Chapter 12. Evaluating the advantages of electric vehicle parking lots in day-ahead scheduling of wind-based power systems
1. Introduction
2. Problem formulation
3. Simulation and numerical results
4. Conclusion
Chapter 13. Large-scale energy storages in joint energy and ancillary multimarkets
1. Introduction
2. Large-scale storage systems
3. Economic justifications
4. Conclusion
Chapter 14. Electric energy storage systems integration in energy markets and balancing services
1. Introduction
2. Potential markets and services
3. Integration of electric storage in energy and ancillary services markets: model and formulation
4. Nomenclature
5. Case studies
6. Concluding remarks on status quo, challenges, and outlook
Chapter 15. Reliability modeling of renewable energy sources with energy storage devices
1. Energy storage device and its modeling
2. Renewable energy sources
3. Multistate modeling of RES and ESD
4. Discrete Markov chains
5. Reliability analysis
6. Load flow analysis
7. Results and discussions
8. Conclusions
Chapter 16. Reliability and resiliency assessment in integrated gas and electricity systems in the presence of energy storage systems
1. Introduction
2. Literature review
3. Model description and formulation
4. Solution methodology
5. Case study
6. Simulation results
7. Summary
Chapter 17. Reliability analysis and role of energy storage in resiliency of energy systems
1. Introduction
2. Requirements and challenges of the future electricity network
3. The concept of resiliency in power systems
4. Comparison between reliability and resiliency
5. The role of energy storage devices in improving resiliency
6. Problem modeling
7. Problem formulation
8. Case study and numerical results
9. Conclusion
Chapter 18. Electric vehicles and electric storage systems participation in provision of flexible ramp service
1. Introduction
2. Ramping issue in the system
3. Flexible ramp effects on operation of power systems
4. Flexible ramp service
5. Conclusion
Author Index
Subject Index

Behnam Mohammadi-Ivatloo

Behnam Mohammadi-Ivatloo, Ph.D., is a Professor with the Faculty of Electrical and Computer Engineering, University of Tabriz, Tabriz, Iran. He was previously a Senior Research Fellow at Aalborg University, Denmark. Before joining the University of Tabriz, he was a research associate at the Institute for Sustainable Energy, Environment and Economy at the University of Calgary. He obtained MSc and Ph.D. degrees in electrical engineering from the Sharif University of Technology. His main research interests are renewable energies, microgrid systems, and smart grids. He has authored and co-authored more than 200 technical publications in his domain of interest, more than 30 book chapters, and 10 books.

Affiliations and expertise

Department of Electrical and Computer Engineering, University of Tabriz, Tabriz, Iran

Amin Mohammadpour Shotorbani

Amin Mohammadpour Shotorbani is a postdoctoral research fellow in energy systems at the University of British Columbia. He is interested in Smart Grid technologies and nonlinear control methods to microgrids, FACTS, VSC-HVDC, HV-MTDC Grid, Renewable Integration, WADC and WAMS. His experience includes designing robust adaptive nonlinear control using CLF, CVLF, SMC, TSMC, FOC, and developing adaptive observer techniques for power system applications. He has also been involved in the implementation of distributed optimization techniques and designing decentralized control for power system applications.

Affiliations and expertise

Postdoctoral Research Fellow, University of British Columbia, Okanagan, Canada

Amjad Anvari-Moghaddam

Amjad Anvari-Moghaddam PhD, SMIEEE, received the Ph.D. degree (Hons.) in Power Systems Engineering from the University of Tehran, in 2015. He is currently an Associate Professor and the vice leader of PESYS and iGRIDS research groups at the Department of Energy (AAU Energy), Aalborg University, where he is also the coordinator for the Integrated Energy Systems Laboratory (IES-Lab). He has published more than 200 technical articles, 4 books, and 8 book chapters. His research interests include planning, control, and operation management of microgrids, renewable/hybrid power systems, and integrated energy systems with appropriate market mechanisms. He was a recipient of the 2020 DUO-India Fellowship Award, the DANIDA Research Fellowship grant from the Ministry of Foreign Affairs of Denmark, in 2018, the IEEE-CS Outstanding Leadership Award 2018 (Halifax, Nova Scotia, Canada), and the 2017 IEEE-CS Outstanding Service Award (Exeter-UK).

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