Modeling investment decisions from heterogeneous firms under imperfect information and risk in wholesale electricity markets
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Anwar, Muhammad Bashar (ORCID:0000000291846700)↗
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The interaction of wholesale electricity market structures under futures with decarbonization policy goals: A complexity conundrum
Competitive wholesale electricity markets can help facilitate energy system decarbonization by incentivizing investments in clean energy technologies that meet evolving system needs. We explore market structure impacts on generator operations and deployment by risk-averse, heterogeneous investor firms using the Electricity Markets and Investment Suite - Agent-based Simulation (EMIS-AS) model. Here we apply clean energy targets of 45%-100% by 2035 considering energy, ancillary services, capacity, and clean energy credit products and pricing and eligibility rules. Results highlight a complexity conundrum, whereby finding the "right" market design to achieve decarbonization goals and avoid unintended consequences can be a highly-nuanced, non-incremental challenge. Carefully designed energy-only markets can achieve the same clean energy targets as capacity market structures but with different revenue and profitability outcomes. Operating reserve demand curve-based scarcity pricing can substitute capacity markets for similar deployment outcomes. Carbon pricing alone is most effective at achieving decarbonization levels at low clean energy targets, and clean energy credit markets and carbon pricing are substitutionary at high clean energy targets. Restricting technology participation in capacity and operating reserve markets can impact deployment and operations, even for nonrestricted technologies. Adding an inertia product with fast frequency response yields insufficient provision at high clean energy targets, but work is needed to understand frequency requirements and capabilities.
29 ENERGY PLANNING, POLICY, AND ECONOMY↗
Technical and economic evaluation of heat transfer fluids for a TES system integrated to an advanced nuclear reactor
The utilization of thermal energy storage technology has emerged as a potential enhancement for nuclear power plants. Although nuclear energy systems possess the ability to adjust their energy output, prolonged variations in production can impact the plant's overall efficiency and economic viability. However, the nuclear industry can capitalize on thermal energy storage to bolster the power plant's economics by leveraging ancillary services and market hedging strategies. Here this research aims to advance the development of thermal energy storage for advanced nuclear reactors by assessing the thermophysical properties of various heat transfer fluids, including FLiNaK, KCl-MgCl 2 , LiCl-KCl, (LiNaK) 2 CO 3 , NaF-ZrF 4 , and KF-ZrF 4 , at temperatures ranging from 500 to 900oC. The assessment is conducted based on thermophysical correlations established in previous studies and employs figures of merit as a metric to evaluate the heat transfer performance of different salt candidates. Additionally, a cost analysis is conducted to provide an idea of the potential cost associated with each salt candidate.
25 ENERGY STORAGE↗
A nuclear-hydrogen hybrid energy system with large-scale storage: A study in optimal dispatch and economic performance in a real-world market
Here a study in optimal dispatch and economic analysis of a novel nuclear hybrid energy system (NHES) with large-scale hydrogen storage and a novel control scheme is conducted. The control scheme makes charge and discharge decisions by using the real-time electricity price relative to the historical price distribution. The pricing data is taken from the ERCOT Houston and West load zones with different price oscillations. Six case control studies with different levels of aggressiveness were chosen for each load zone for a total of 12 case studies. It is found that in a high price volatility load zone, a more aggressive control strategy maximizes revenue, while in a less oscillatory load zone, a moderate control strategy performs better. The NHES can store energy when the price is low and sell additional electricity when the price is high, as well as participate in the ancillary services market. Due to these advantages, the NHES can generate 10–40 million USD more revenue annually than a stand-alone nuclear plant. Due to higher costs, the NHES has a higher LCOE (81.36 USD/MWh) than a stand-alone plant (68.66 USD/MWh); however, the LCOE of the NHES is still comparable to other new forms of electricity generation. It is found that both the NHES and the stand-alone plant are not economical in the existing electricity market. Due to the extra revenue generated, the hybrid system has a positive annual cashflow whereas the stand-alone plant does not. It is found that the hybrid plant needs less cost subsidy than a stand-alone plant to become economical.
08 HYDROGEN↗
Hydropower operation in future power grid with various renewable power integration
Hydropower generation may play an increasingly important role in the power grid under increasing contribution of variable renewable sources such as wind and solar. An improved understanding of the changes to hydropower dispatch under future higher VRE grid conditions reveals research gap that should be informed power grid planning and reservoir water releases policies considering multiple other water uses and varying hydrologic condition. Here this study aims to understand the role of hydropower in a changing power grid by employing a production cost model, PLEXOS, across future power system scenarios, planning horizons, and regions. We explore optimized hydropower dispatch to understand its potential role in minimizing the system cost and renewable curtailment. We also examine the sensitivity of hydropower revenue under various grid scenarios of the Eastern U.S. and hydrology conditions. Results indicate hydropower generation follows net load and compensates for the variability of solar and wind generation. Although energy prices are lower during some periods in the future grid scenarios, there is a potential for higher revenue for hydropower by providing both energy and ancillary services during times of stress. Additionally, hydropower revenue is sensitive to hydrology in the SERC region, which we considered as an example. The feasibility of hydropower dispatching with higher ramps between low and high hourly-capacity factors, as indicated in the optimization model, requires further study to consider other water use and ecology constraints.
13 HYDRO ENERGY↗
Valuing wind as a distributed energy resource: A literature review
As more distributed energy resources are deployed on electric grid systems across the world, it is important to identify, characterize, and quantify the value elements of different types of distributed energy resources so that policymakers, developers, and utilities can make informed energy deployment decisions. This paper focuses on the value of wind energy as a distributed energy resource (i.e., “distributed wind”). Because of a lack of distributed wind-specific valuation studies, in this review we document the current state of distributed energy resource valuation, analyze a wide array of distributed energy resource valuation metastudies, and identify several value elements for which we recommend developing more robust and standardized calculation methodologies for their potential inclusion in distributed wind valuation. These value elements are ancillary services and locational, resilience, reliability, and resource diversity benefits. Furthermore, this work lays the foundation for a future comprehensive framework for distributed wind valuation studies.
17 WIND ENERGY↗
Getting lost tracking the carbon footprint of hydropower
In the transition to low-carbon electricity, well-quantified estimates of carbon dynamics are needed to ensure that emissions reduction targets are achieved. Here we review the state of the science on carbon accounting for hydropower reservoirs and identify limitations and future solutions. Nearly all research on reservoir greenhouse-gas (GHG) emissions has focused on individual reservoirs in isolation without considering their position in a freshwater network draining organic matter from upstream watersheds or the coordinated operation of reservoir cascades. Second, carbon inventories have extrapolated from a small, non-probabilistic sample of highly variable measurements of GHG emissions to unsampled reservoirs. A stronger statistical foundation is needed to estimate a global inventory and its uncertainty. Third, attribution to hydropower is based on ranks assigned to reservoir purpose. Instead, the physical influence of hydropower on carbon dynamics could be directly measured. Fourth, current carbon-accounting practices neglect time. A time-varying approach would quantify variation in emissions for electricity portfolios from changes in the fuel mix at different times and account for ancillary services, i.e., the ability to support the grid when variable renewables are not available without using natural gas. Reservoirs also sequester a significant portion of inflowing carbon in sediments and slow the carbon cycle by delaying the return of carbon to the atmosphere for decades to centuries. Together, these refinements would help to illuminate pathways toward meeting energy demand with the longest-possible delay in returning carbon to the atmosphere and without adding ancient sources to the pool of carbon cycling through aquatic ecosystems.
13 HYDRO ENERGY↗
Multi-timescale operations of nuclear-renewable hybrid energy systems for reserve and thermal product provision
In this paper, an optimal operation strategy of a nuclear-renewable hybrid energy system (N-R HES), in conjunction with a district heating network, is developed within a comprehensive multi-timescale electricity market framework. The grid-connected N-R HES is simulated to explore the capabilities and benefits of N-R HES of providing energy products, different reserve products, and thermal products. An N-R HES optimization and control strategy is formulated to exploit the benefits from the hybrid energy system in terms of both energy and ancillary services. A case study is performed on the customized NREL-118 bus test system with high renewable penetrations, based on a multi-timescale (i.e., three-cycle) production cost model. Both day-ahead and real-time market clearing prices are determined from the market model simulation. In conclusion, the results show that the N-R HES can contribute to the reserve requirements and also meet the thermal load, thereby increasing the economic efficiency of N-R HES (with increased revenue ranging from 1.55% to 35.25% at certain cases) compared to the baseline case where reserve and thermal power exports are not optimized.
29 ENERGY PLANNING, POLICY, AND ECONOMY↗
Optimal Economic Dispatch and Load-Following Strategies for Nuclear Integrated Energy Systems
The need for distributed and adaptable energy resources that can handle the growing unpredictability in both supply and demand is rising as the power system continues to modernize. In order to satisfy those needs and maintain grid resilience, nuclear power plants can dynamically control their output, despite typically being used as baseload generators. By incorporating energy storage and renewable energy sources, nuclear integrated energy systems are designed to satisfy the electrical and thermal demands of different end-user applications while ensuring flexible power operation. These systems generate revenue by participating in both wholesale and ancillary services electricity markets, as well as commodity markets for various byproducts generated from coupled industrial processes. This study addresses the economic dispatch efficiency of a tightly coupled nuclear integrated energy system comprising a gigawatt-scale light water reactor, commercialized in the U.S., a high-temperature steam electrolysis unit, a district heating network, and specified electrical loads. To demonstrate the nuclear power plant’s flexibility within the day-ahead unit commitment and economic dispatch framework, while maintaining equilibrium even during periods of refueling outages, this paper develops a mixed-integer linear programming framework that models the subsystems and components of its nuclear steam supply system. A systematic comparative analysis of flexible versus baseload nuclear power plant operation under varying levels of renewable energy integration indicates that flexible operation enhances system profitability by more than 18% while also increasing energy storage utilization, improving reactor responsiveness to load fluctuations, and allowing for greater participation across numerous electricity markets.
29 ENERGY PLANNING, POLICY, AND ECONOMY↗
A Novel Three-Phase Oak Ridge AC / AC Converter for Wireless Mobility Energy Storage System (WMESS) Connectivity
In this study, a novel three-phase Oak Ridge ac to ac converter is introduced for wireless mobility energy storage system (WMESS) applications for grid support or ancillary service applications. The proposed topology can be used in bidirectional operation between ac grid and ac terminals of energy storage (output of the ESS inverter) by accomplishing unity power factor. Inherent merit of the technology is that it can directly merge ac input 60 Hz grid frequency with the high frequency by superimposing them with the Oak Ridge Converter (ORC) and through the wireless coils. Theoretical and simulation results are provided for 10 kW output power. The functionality of the proposed three-phase system is demonstrated with the coupling coils separated by 6 inches of air gap with the input / output of 277 V AC,RMS . The system overall design is presented, and simulation results demonstrate achieving 3% current total harmonic distortion (THD) and 0.99 power factor (PF) at full load of 10 kW wireless power transfer.
Asa, Erdem↗
A Machine Learning-based Approach to Predict the Aggregate Flexibility of HVAC Systems
Use of renewable energy resources can play a significant role in mitigation of climate change since they reduce the dependency on fossil fuels. However, high penetration of renewable energy resources into the power grid may cause some reliability problems. Ancillary services are key to realize the potential of renewable resources without disturbing the grid reliability. In recent years, many control approaches focused on exploiting the aggregate flexible heating, ventilation, and air-conditioning (HVAC) loads of buildings. However, there are still research gaps in assessing in advance the resulting indoor temperature responses for given total power and weather profiles before implementing the controls in the buildings. Such an assessment is critical to guarantee satisfying both the grid related objective (reliability) and the building related objective (occupants' comfort). Towards addressing this research gap, this paper presents a machine-learning approach for predicting the ratings of indoor temperature responses. In this approach, a prediction model was developed using a dataset generated by a set of model-free control simulations. The developed model achieved high prediction accuracy and showed the potential of the proposed approach.
Amasyali, Kadir↗
Real-time Simulation of Coordinated Sub-Transmission Volt-Var Control Tool under High Distributed PV Penetration
With the rapid penetration of intermittent solar photovoltaic (PV) and other distributed energy resources (DER) into the grid, and subsequent changes in power flow patterns in both distribution and sub-transmission, voltage regulation is becoming a major challenge. It is prudent to leverage PV and DER to provide ancillary services to the grid, such as voltage regulation. Recently, a quasi-static, coordinated real-time sub transmission volt-var control algorithm (CReST-VCT) was developed for voltage regulation under high PV penetration by dispatching the reactive power settings of the shunt devices and PV inverters. The algorithm was validated offline, on a quasistatic study. Such quasi-static dispatching algorithms cannot guarantee its performance for highly nonlinear dynamical power systems. In this paper the performance of the algorithm is validated with a real time nonlinear dynamic simulation of a modified IEEE 118 bus system in Opal-RT. The real time simulation is used to emulate the actual system operation, providing a more realistic testing environment for CReST-VCT. The dispatch and control signals are communicated between the power system (Opal solver) and the control center (GAMS solver) in real-time with a MODBUS bridge. The results demonstrate i) system is stable with the new dispatch points ii) significant improvement in system-wide voltage profiles compared to an uncontrolled scenario. Another significant contribution of the work is developing a framework for dispatchable, long duration dynamic simulations that can be leveraged for market/dispatch studies.
CReST-VCT, Opal-RT, Volt/Var Control, renewable in↗
Autonomous Anomaly Detection for MPC Forecasts of HVAC Systems in Residential Communities
The use of residential heating, ventilation, and air conditioning (HVAC) to shift peak demand or provide ancillary services is a potential solution in the presence of older grids and distributed renewables. However, to ensure the efficient use of devices, utilities need to accurately forecast the load and adopt error correction schemes when necessary. While significant theoretical research exists in the area of predictive control of HVAC, little experimental evidence exists. The lack of experimental data in turn causes researchers to be unprepared for unsystematic errors which emerge due to the higher complexity of the data generating process. This study offers an anomaly detection methodology that uses unsupervised machine learning algorithms to detect and isolate these errors with different forecast error ranges. The results of anomaly detection procedure can then be used for error correction and would eventually help develop better predictive controllers. The methodology is tested using real world data from a smart neighborhood that currently operates in Atlanta. GA.
Lebakula, Viswadeep↗
Primary Frequency Control Using Motor Drives for Short Term Grid Disturbances
Industrial motor systems make up a quarter of all electric sales in the United States. Variable speed drives (VSDs) can provide energy efficiency savings to the customer by regulating motor speed based on specific and varying needs. In addition to the benefits provided to the customer, VSDs can provide support to the grid through ancillary services. The Center for Ultra-Wide-Area Resilient Electric Energy Transmission Networks (CURENT) developed a power electronics converter-based grid emulator to allow testing of various power system architectures and demonstration of key technologies in monitoring, control, actuation, and visualization. This paper proposes using an active front-end VSD's connected motor load to provide frequency regulation to a large scale power grid. Each part of the emulator is described including motor and power electronics model and control. The proposed frequency regulation is implemented in VSDs and modeled in both a transmission system in EMTDC/PSCAD and verified on CURENT's hardware testbed.
24 POWER TRANSMISSION AND DISTRIBUTION↗
Dynamic Modeling of Full Converter Adjustable-speed Pumped Storage Hydropower (FC AS-PSH)
Full converter adjustable-speed pumped storage hydropower (FC AS-PSH) technology, as one of advanced-PSH technology, is developed from wind turbine technology. By making the synchronous machine connect to the grid through a full-size converter, FC AS-PSH has a wider adjustment range of speed and a better reactive power control capability compared with a doubly-fed asynchronous generator AS-PSH technology. When it plays as an energy backup in the power system, FC AS-PSH can provide a much faster response than conventional-PSH (C-PSH) which makes this technology provide better ancillary service for a high renewable penetrated system. In this paper, the dynamic modeling of FC AS-PSH is fully studied. We develop a detailed model of this technology in the IEEE 14-bus system based on GE Positive Sequence Load Flow (PSLF) platform. Especially, the first governor model is developed based on the Engineer’s Program Control Language (EPCL) user-defined model in this platform. All operation modes are validated and studied under a system contingency. Besides, comparison cases between FC AS-PSH and C-PSH are studied to show advantages providing from FC AS-PSH when it works with renewable energy.
50 EE - Wind and Water Power Program - Water (EE-4↗
Impact of Quaternary Pumped Storage Hydropower on Frequency Response of U.S. Western Interconnection with High Renewable Penetrations
As renewable penetration increases in the United States, maintaining stability and reliability of low-inertia power grid by providing sufficient frequency control capability becomes a challenge. Advanced pumped storage hydro technologies (APSH) will be expected to play an important role for future grid as not only an energy supplier, but also as an ancillary services provider. This paper studies the impact of using quaternary pumped storage hydropower (Q-PSH), as one of the newly proposed APSH technology, to provide primary frequency response. To quantify the impact of Q-PSH on frequency response of the U.S. Western Interconnection, a user-defined dynamic model of Q-PSH is developed on the GE Positive Sequence Load Flow (PSLF) platform and is implemented in a set of detailed U.S. Western Electricity Coordination Council (WECC) planning cases in which renewable penetration levels are 20%, 40%, 60% and 80%. Simulation results show that Q-PSH can help improve frequency nadir and settling frequency comparing to the conventional PSH.
frequency response↗
Robust VAR Capability Curve of DER with Uncertain Renewable Generation
Active distribution system with high penetration of inverter based distributed energy resources(DER), can be utilized for var-related ancillary services at the transmission side interface. In order to utilize the DER flexibility, transmission system operator must be presented the aggregated DER flexibility of distribution system. However, the uncertainty in renewable generation, questions the credibility of aggregated capability curve in practice. In this paper, we incorporate the uncertainty into aggregation process to develop capability curve while preserving the real physics (unbalance and lossy nature) of distribution system. The Resulting capability curve with the associated probability can be harnessed by the TSO for decision making for both planning and operation.
Kar, Aditya Shankar↗
Techno-Economic Evaluation of a 600MW Pumped Storage Hydropower Plant using the Pumped Storage Hydropower Valuation Tool
This paper presents a techno-economic evaluation of the proposed 600 MW, 8-hour Craig – Hayden pumped storage hydropower project using the U.S. Department of Energy’s Pumped Storage Hydropower Valuation Tool. The analysis integrates plant technical characteristics, regional grid conditions, and market-based operating assumptions to quantify stacked value streams from energy arbitrage, capacity, ancillary services, transmission congestion relief, and reliability. Both price taker and price influencer frameworks are applied to examine the impact of market participation and system interactions on lifecycle economic performance using Benefit - Cost Analysis and Multi - Criteria Decision Analysis. The results show that the price taker approach provides higher revenue estimates based on exogenous price signals, while the price influencer approach captures production cost savings, renewable curtailment reduction, and market price formation, yielding more conservative but system-representative outcomes. The study demonstrates the strategic value of long-duration PSH for enhancing operational flexibility, resource adequacy, and grid reliability in a high-renewable Western Interconnection.
Bhattacharyya, Arjun [ORNL] (ORCID:000900060976046↗