Energy storage (ES) represents the lossy temporal shift of electric energy that is fundamentally different from energy generation and consumption, and requires new models and market rules for integration in power systems scheduling and pricing practices.
Our research develops fundamental models for scheduling and pricing of flexibility services provided by ES technologies in power systems. Our models show, analytically, how the operation of ES devices creates an intertemporal dependence in marginal electricity prices, where the marginal price during ES discharging has a direct relationship with the marginal price of the times when the ES is charged. In addition, we develop detailed physical models for participation of ES technologies, such as compressed air energy storage, in electricity markets.
- R. Khatami, M. Parvania, “Spatio-Temporal Value of Energy Storage in Transmission Networks,” IEEE Systems Journal, in press, 2020. DOI
- R. Khatami, M. Parvania, “Stochastic Multi-Fidelity Scheduling of Flexibility Reserve for Energy Storage,” IEEE Transactions on Sustainable Energy, in press, 2019. DOI
- R. Khatami, K. Oikonomou, M. Parvania, “Look-Ahead Optimal Participation of Compressed Air Energy Storage in Day-ahead and Real-time Markets,” IEEE Transactions on Sustainable Energy, vol. 11, no. 2, pp. 682-692, 2020. DOI
- R. Khatami, M. Parvania, P. Khargonekar, “Scheduling and Pricing of Energy Generation and Storage in Power Systems,” IEEE Transactions on Power Systems, vol. 33, no. 4, pp. 4308-4322, July 2018. DOI
- R. Khatami, M. Parvania, “Optimal Coordination of Energy Storage and Generation Flexibility in Transmission Networks,” in Proc. 2019 IEEE PES General Meeting, Atlanta, GA, August 4-8, 2019. (best paper award).
- R. Khatami, M. Parvania, P. Khargonekar, “Continuous-time Look-Ahead Scheduling of Energy Storage in Regulation Markets,” in Proc. 2019 Hawaii International Conference on System Sciences (HICSS), Maui, HI, January 8-11, 2019. (nominated for best paper award) DOI
- M. Parvania, M. Fotuhi-Firuzabad, M. Shahidehpour, “Comparative Hourly Scheduling of Centralized and Distributed Storage in Day-Ahead Markets,” IEEE Transactions on Sustainable Energy, vol. 5, no. 3, pp. 729–737, July 2014. DOI
Funded Research Projects
- Scheduling and Pricing of Energy Storage Flexibility in Wholesale Energy and Ancillary Services Markets, U.S. Department of Energy, 2019-2021.
- Stochastic Continuous-time Flexibility Scheduling and Pricing in Wholesale Electricity Markets, U.S. Department of Energy, 2017-2020.
- Modeling and Impact Analysis of Compressed Air Energy Storage in Power Systems, Magnum Energy, 2017.
Prof. Pramod Khargonekar (University of California, Irvine), Magnum Development, Sandia National Laboratory