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Search indexed NASA NTRS and DOE OSTI research on propulsion, heat transfer, battery materials and energy systems. Follow report and document links to the original sources.

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All sourcesNASA NTRSDOE OSTI
DOE OSTI2021

An Integrated Paradigm for the Management of Delivery Risk in Electricity Markets: From Batteries to Insurance and Beyond [Slides]

In wholesale electricity markets today, flexibility from a limited number of distributed energy resources (DERs) is offered daily, and the value of flexibility is not yet recognized for economic hedging of delivery risk. Under a three-year project funded by the ARPA-E PERFORM program, a collaborative team is working towards developing an integrated risk management framework that will leverage flexibility from distributed and bulk resources to cost-effectively and reliably manage delivery risk of intermittent resources. Two concepts are at the core of the proposed integrated risk management framework: (A) flexibility options, which are a novel type of options and enable wholesale electricity market participants to hedge uncertainty by buying flexibility. (B) DER flexibility scores, which provide a way for utilities or aggregators to classify assets in groups with different likelihood of delivering contracted flexibility. This report presentation will focus on the proposed ISO-product "flexibility options," which is complementary to ramp and other products being introduced by ISOs/RTOs to manage net load uncertainties. Participating resources with imbalance risk can buy flexibility options to hedge their production, whereas grid-connected resources that can provide physical flexibility can offer flexibility options. We will present basics of the formulation for a day-ahead ISO market that matches buyers and sellers of this hedge in coordination with existing capabilities to schedule energy and ancillary services, and outline how their settlements mitigate the impact of imbalance risk.

24 POWER TRANSMISSION AND DISTRIBUTION↗
DOE OSTI2021

Electricity Market Dynamics as Smooth Games: Organizing Gradient-Based Learners and Identifying Instabilities

Wide-spread adoption of machine learning and distributed energy production has the potential to fundamentally change behaviours of energy markets. In practice, along with the benefits, previously unseen instabilities have begun emerging in markets currently embracing these technologies. In this report we study electricity markets as dynamical systems arising in smooth games, where energy consumers are modelled as gradient-based learners who interact on a graph through distributed energy producers. We give simple examples of how instabilities can arise even when the consumers’ local objectives seem reasonable and how these instabilities can be remedied. Drawing insights from these examples, we begin developing a general model of optimization-driven electricity market dynamics and give conditions for ensuring local Nash equilibria of the system are stable fixed points of the dynamics. Our results demonstrate how models of electricity market dynamics might be used for deriving formal guarantees in order to stabilize markets and enact regulatory policies in the face of market shocks.

22 GENERAL STUDIES OF NUCLEAR REACTORS↗
DOE OSTI2023

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↗
DOE OSTI2022

Stochastic Strategic Participation of Active Distribution Networks With High-Penetration DERs in Wholesale Electricity Markets

With the increasing penetration of distributed energy resources (DERs), traditional distribution networks as load-serving entities in wholesale electricity markets, now evolve towards active distribution networks (ADNs) which can proactively participate in wholesale markets by optimally controlling the DERs in their networks. A stochastic bilevel optimization model is proposed in this paper for the strategic participation of ADNs and DERs to provide energy and grid services in wholesale electricity markets. The bilevel optimization model can capture the interactions between the ADN and the wholesale energy and ancillary service markets, considering the uncertainties of DERs in the ADN. In the upper-level model, the ADN makes optimal decisions on energy and reserve bidding considering the availability, uncertainties, and flexibility of DERs. The joint energy and reserve market-clearing of the independent system operator (ISO) is modeled as the lower-level problem. Using strong duality theory and Karush-Kuhn Tucker (KKT) conditions, the proposed bilevel optimization problem is reformulated as mathematical programming with equilibrium constraints (MPEC) problem and further converted into a computationally-solvable mixed-integer second-order-cone programming (MISOCP) model. The simulation results demonstrate the effectiveness of the model and the interactions between an ADN and wholesale electricity markets.

active distribution network↗
DOE OSTI2021

Electricity Market of the Future: Potential North American Designs Without Fuel Costs

Electricity markets across the United States and Canada have evolved since their inception in the late 1990s and early 2000s. Not all states and provinces moved toward restructured organized electricity markets, but rather those that have belonged to markets operated by independent system operators (ISOs) and regional transmission organizations, with designs developed through stakeholder processes and approved through state, provincial, or federal agencies, such as the Federal Energy Regulatory Commission (FERC).

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2021

Characterizing US Wholesale Electricity Markets

The purpose of this report is to provide analysts seeking to conduct technoeconomic analysis studies (TEA) on energy systems in US Wholesale electricity markets with a starting point. This document provides an overview of the primary markets related to electricity generation, namely capacity markets and ancillary services markets. The report provides a summary of each of these then provides details on these markets in the context of the seven wholesale electricity markets in the US. The document also summarizes key documents, web resources, and textbooks that will provide useful data and economic understanding for the analyst conducting the TEA studies.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2023

Special Section on Local and Distributed Electricity Markets

Driven by the goals of clean energy and zero carbon emissions, the power industry is undergoing significant transformations. The rapid growth of diverse distributed energy resources (DERs) at grid edge such as rooftop photovoltaics (PVs) and electric vehicles is transforming the traditional centralized power grid management to a decentralized, bottom-up, and localized control paradigm. Establishing local and distribution-level electricity markets provides an effective solution to managing large amounts of small-scale DERs. New regulations such as the recent FERC Order 2222 in the U.S. open the door to DERs in the wholesale markets. Through coordinating the local and distribution-level markets with the transmission-level wholesale market, the DERs and prosumers can trade energy and flexibility locally with each other and meanwhile provide energy, flexibility and ancillary services to the bulk power grid. During this transition, there are many new technical challenges to address, calling for innovative ideas and interdisciplinary research in this promising direction. Advanced information and communication technologies (ICT) are needed, as a key enabler, for the development and practical implementation of local and distribution electricity markets. Research into local and distribution markets is strongly interdisciplinary, involving the state of the art in power engineering, economics, and digital/information technology. A broad spectrum of contributors from universities, industry, research laboratories and policy makers is sought to develop and present solutions and technologies that will facilitate and advance practical applications and implementations of local and distribution-level electricity markets to uncover the values of DERs.

distributed energy resources↗
DOE OSTI2024

Research Priorities and Opportunities in U.S. Wholesale Electricity Markets: Market Design under Deep Decarbonization

This report provides a comprehensive review of challenges, research needs, and potential solutions for competitive wholesale electricity market design in deeply decarbonized power systems. We provide context regarding how competitive wholesale electricity markets can evolve in a longer-term perspective to ensure that they still operate efficiently throughout the transition to a deeply decarbonized future. We organize the discussion across seven topics: operational reliability, emerging technology integration, adequacy and resilience, price formation, interactions across transmission and distribution systems, transmission planning, achieving clean energy objectives, and challenges associated with cost-effectively achieving clean energy objectives. In each section we first identify key associated challenges before proposing a set of corresponding solutions and research needs.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2024

Research Priorities and Opportunities in U.S. Wholesale Electricity Markets: Market Design under Deep Decarbonization

This report contributes to the body of literature by reviewing key challenges for competitive wholesale electricity market design in deeply decarbonized power systems and establishing potential solutions and associated research needs. We provide a long-term perspective on ways in which competitive wholesale electricity markets can evolve to ensure that they still operate efficiently throughout the transition to a deeply decarbonized future. In this report, we use the term “deep decarbonization” to refer broadly to systems that generate nearly all their electricity from zero-carbon or carbon-neutral resources, while recognizing that there are many potential configurations of such systems. We also stress that many of these issues will arise to varying degrees as systems move toward full decarbonization, even if they are not truly 100% carbon-free.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2020

EMIS Agent Simulation Model (Electricity Markets Investment Suite) [SWR-19-56]

The Electricity Markets Investment Suite Agent-based Simulation (EMIS-AS) model is an agent-based model developed at NREL for simulating annual investment and retirement decisions of heterogeneous investors in the electricity sector. EMIS-AS is designed to capture the evolution of the electricity generation portfolio resulting from the interactions of heterogeneous investors under different policy and market designs. EMIS-AS not only allows end-users to customize market products and rules, but also to capture investors' heterogeneous financing parameters, technology preferences, beliefs about the future (forecasts), ability to update those forecasts, and risk preferences under uncertainty.

Anwar, Mahammad Bashar↗
DOE OSTI2024

Techno-economic assessment of electricity market potential for co-located hydro-floating PV systems

Abstract—Harnessing renewable energy from diverse sources is paramount for sustainable power systems. Recently, co-located floating PV (FPV) systems present an intriguing prospect in this context. These hybrid systems, blending hydro and solar power, may offer a more consistent electricity output and potential economic advantages. Yet, assessing their actual potential requires a comprehensive techno-economic assessment. In addition, probabilistic price forecasting has recently gained attention in electricity market because decisions based on such predictions can yield significantly higher profits than those made with point forecasts alone. To this end, this paper embarks on a journey to elucidate the electricity market potential of co-located hydro-FPV systems in a probabilistic fashion to investigate the technological merits and economic viability of co-located hydro-FPV under different market structures. Our preliminary findings suggest that LCOE and payback metrics are sensitive not only to different markets but also to different solar incentives. Concurrently, we also observe that the payback period is generally faster with a production tax credit (PTC) than an investment tax credit (ITC). This assessment serves as a cornerstone for understanding the future prospects of co-located hydro-FPV systems in modern electricity markets.

13 HYDRO ENERGY↗
DOE OSTI2021

Data-Driven Probabilistic Anomaly Detection for Electricity Market under Cyber Attacks

Information and communication technologies have been widely used in smart grid for efficient operation. However, these technologies are vulnerable to malicious cyber attacks, which may lead to severe reliability and economic issues. Recently, a variety of data-driven anomaly detection approaches have been explored to detect potential cyber attacks in smart grids. In this paper, we researched on the electricity market data aiming to identify anomalies from the locational marginal prices (LMPs) and provide a new indicator for potential cyber attacks in power grids. Specifically, a novel data-driven probabilistic anomaly detection framework is proposed for electricity market, which consists of three major components: long short-term memory (LSTM) based deterministic electricity price forecasting, probabilistic electricity price forecasting and anomaly detection. This framework is tested on a model-based electricity market simulator under two types of cyber attacks, i.e., load redistribution attack (LRA) and price responsive attack (PRA). Numerical results on the simulated LMPs show that the proposed framework is capable of detecting data anomalies over these attacks.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2022

Security-Constrained Unit Commitment for Electricity Market: Modeling, Solution Methods, and Future Challenges

This paper summarizes the technical activities of the IEEE Task Force on Solving Large Scale Optimization Problems in Electricity Market and Power System Applications. This Task Force was established by the IEEE Technology and Innovation Subcommittee to first review the state-of-the-art of the security-constrained unit commitment (SCUC) business model, its mathematical formulation, and solution techniques in solving electricity market clearing problems. The Task Force then investigated the emerging challenges of future market clearing problems and presented efforts in building benchmark mathematical and business models.

24 POWER TRANSMISSION AND DISTRIBUTION↗
DOE OSTI2021

Transactive Implementation of Decentralized Electricity Market for Grid-Edge Systems

The electricity landscape is evolving towards more decentralized approaches due to the proliferation of distributed energy resources and the participation of increasingly smart consumers and producers (prosumers). Recent advances in information and communication technologies and smart metering, provides strategic opportunities for “prosumers” to reform their conventional energy practices towards more consumer-centric economies. From an operational perspective, managing power distribution networks is becoming more difficult with such active grid-edge systems providing limited to no visibility or control. Transactive Energy (TE) has been emerging as a key enabler towards effectively and efficiently integrating prosumers into competitive electricity markets. This work presents a transactive implementation of community-centric markets. A co-simulation framework is developed for evaluating the proposed market structure with high-fidelity models. Case studies on the IEEE-123 node test system demonstrate that community-centric transactive markets can enable communities of prosumers to operate collaboratively as grid-edge systems. The potential benefits of implementing community-centric TE systems are also illustrated.

transactive, microgrids, centralized market operat↗
DOE OSTI2023

Mitigation-Aware Bidding Strategies in Electricity Markets

Market power exercise in the electricity markets distorts market prices and diminishes social welfare. Many markets have implemented market power mitigation processes to eliminate the impact of such behavior. The design of mitigation mechanisms has a direct influence on investors' profitability and thus mid-/long-term resource adequacy. In order to evaluate the effectiveness of the existing market power mitigation mechanisms, this paper proposes a mitigation-aware strategic bidding model and studies the bidding strategies of the market participants under current practice. The proposed bidding model has a bilevel structure with strategic participant's profit maximization problem in the upper level and the dispatch problem for market operators in the lower level. In particular, the consideration of potential offer mitigation is incorporated as upper-level constraints based on the conduct and impact tests. This bilevel problem is reduced to a single-level mixed-integer linear program using the KKT optimality conditions, duality theory, and linearization. Numerical results illustrate how a strategic player can exercise market power to achieve a higher profit even under the current market power mitigation process and we analyze the social impact that the market power exercise results.

Wu, Yiqian↗
DOE OSTI2020

State-of-the-art short-term electricity market operation with solar generation: A review

With the accelerating penetration of solar energy in energy systems, market operations concerning the solar-associated intermittency are widely discussed. How to correctly model the solar generation in the market and solve the uncertainty-based operation problems call for solutions. Unlike other renewable resources, solar power can be more easily applied to the demand side through behind-the-meter installations in a distributed manner with significant future extensibility. The corresponding operational rules in the markets are largely being revised. Over the past two decades, with the development of deregulated power markets, numerous studies related to uncertainty-based market operations tend to transform the market from a deterministic and centralized framework to a stochastic and decentralized one. As the relevant literature is most recent, this paper reviews their contributions to electricity market operations with solar integration and underlines the research directions of this topic and ongoing industry practices. A thorough review of the electricity markets worldwide with solar energy is provided. A variety of proposed mathematical solutions to the problem are also addressed.

14 SOLAR ENERGY↗
DOE OSTI2021

HIPPO – A Software Platform for Electricity Market Research and Development

The goal of this project is to provide Regional transmission organizations (RTOs) and independent system operators (ISOs) a market design and prototyping software, High-Performance Power-Grid Optimization (HIPPO), that they can evaluate electricity market design options, calculate market planning strategies and operational performance. With the high standards and strict reliability requirements for operating power systems, impacts of new technologies need to be fully investigated prior to any consideration for adoption. A market design and prototyping software tool which can be used to prototype electricity market design options, to calculate market planning strategies and operational performance with high precision, and to investigate the impacts for integrating future power grid technologies will be valuable to RTOs/ISOs who operate power systems, to vendors like GE and ABB who provide the market solvers, and to market participants and researchers who are actively doing market research. HIPPO is a such tool that can be used to improve the current market operations and provide capabilities for rigorous forward-looking design and prototyping of next-generation energy markets. HIPPO has a high-resolution model for the day-ahead SCUC, which was validated with MISO and GE-Grid Solutions. HIPPO is built with parallel and distributed computing capabilities and can be executed in both multi-thread and high-performance computing (HPC) settings. This capability provides fast solution speed necessary to handle the larger and more complex SCUC problems of real-world cases and the potentially growing size and complexity of future scenarios. In addition, HIPPO has a concurrent optimizer (CO) which manages multiple algorithm executions simultaneously and leverages the advantages from different algorithms. This structure provides flexibility to better benchmark competing approaches. Highly accurate market model, fast solution technologies and flexible model and algorithm control are the features which will make HIPPO an extensible platform for developing and testing multiple approaches to meet a wide range of future market needs.

24 POWER TRANSMISSION AND DISTRIBUTION↗
DOE OSTI2022

Incorporate day-ahead robustness and real-time incentives for electricity market design

In this paper, we propose a two-stage electricity market framework to explore the participation of distributed energy resources (DERs) in a day-ahead (DA) market and a real-time (RT) market. The objective is to determine the optimal bidding strategies of the aggregated DERs in the DA market and generate online incentive signals for DER-owners to optimize the social-welfare taking into account network operational constraints. Distributionally robust optimization is used to explicitly incorporate data-based statistical information of renewable forecasts into the supply/demand decisions in the DA market. We evaluate the conservativeness of bidding strategies distinguished by different risk aversion settings. In the RT market, a bi-level time-varying optimization problem is proposed to design the online incentive signals to tradeoff the RT imbalance penalty for distribution system operators (DSOs) and the costs of individual DER-owners. This enables tracking their optimal dispatch to provide fast balancing services, in the presence of time-varying network states while satisfying the voltage regulation requirement. Simulation results on both DA wholesale market and RT balancing market demonstrate the necessity of this two-stage design, and its robustness to uncertainties, the performance of convergence, the tracking ability and the feasibility of the resulting network operations.

24 POWER TRANSMISSION AND DISTRIBUTION↗