Energy Storage in Energy Markets: Uncertainties, Modelling, Analysis and Optimization - Softcover

Softcover

ISBN 10: 0128200952 ISBN 13: 9780128200957

Publisher: Academic Press, 2021

Synopsis

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.

• Provides integrated techno-economic analysis of energy storage systems and the energy markets
• Reviews impacts of electric vehicles as moving energy storage and loads on the electricity market
• Analyzes the role and impact of energy storage systems in the energy, ancillary, reserve and regulatory multi-market business
• Applies advanced methods to the economic integration of large-scale energy storage systems
• Develops an evaluation framework for energy market storage systems

About this title

About the Authors

Dr. Behnam Mohammadi-Ivatloo, PhD, is a Professor of sector coupling in energy systems at LUT University, Lappeenranta, Finland. He has a mix of high-level experience in research, teaching, administration and voluntary jobs at the national and international levels. He was PI or CO-PI in more than 20 externally funded research projects including grants from EU Horiozn and Business Finland. He is a Senior Member of IEEE since 2017 and a Member of the Governing Board of Iran Energy Association since 2013, where he was elected as President in 2019. He is Editor of IEEE Transactions on Power Systems and IEEE Transactions of Transportation Electrifications. His main areas of interest are integrated energy systems, sector coupling, renewable energies, energy storage systems, microgrids, and smart grids.

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.

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).

From the Back Cover

Energy storage has gained increasing popularity in both industry and research during the last decade, due to its valuable flexibility service for energy systems. Some claim that centralized large-scale energy storage may have a key role towards a cost-efficient de-carbonization goal, while others advocate the distributed use of energy storages to enable self-consumption at and-use points and decrease the need for extensive investment in transmission capacity. However, regardless of the technology and size, appropriate market designs must be introduced to facilitate the integration of storage options into energy systems.

Energy Storage in Energy Markets reviews the modelling, design, analysis, optimization, and impact of energy storage systems in energy markets, for an audience of researchers and practitioners. It provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and impacts of storage integration. Heavily referenced and easily accessible to policy makers, developers, engineer, researchers and students alike, it aims mainly at filling the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce. To help readers better understand the subject area, the first few chapters elaborate on the two key aspects: energy market fundamentals and operation as well as energy storage fundamentals and components. Then the role and impact of storage systems on energy systems from different aspects such as environmental, technical and economical are discussed. The role of storage devices in uncertainty handling in energy systems, together with their contributions in resiliency and reliability improvement are addressed. Having understood the role of energy storage systems in achieving different goals in various temporal and special scales, mutual and reciprocated interactions between the energy storage systems and the energy market, in the higher interfacing level, are introduced in the following chapters. Focus is given to the roles and impacts of energy storage systems in the energy, ancillary, reserve and regulatory markets, as well as multi-market businesses. The work concludes by developing powerful approaches to evaluate the contribution of energy storage systems in joint energy and ancillary multi-markets.

Edition details

• Publisher: Academic Press
• Publication date: 2021
• Language: English
• ISBN 10: 0128200952
• ISBN 13: 9780128200957
• Binding: Paperback
• Edition number: 1
• Number of pages: 490
• Editor: Mohammadi-Ivatloo Behnam, Mohammadpour Shotorbani Amin, Anvari-Moghaddam Amjad