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@inproceedings{Oderinwale:2019:10.1109/PTC.2019.8810584,
author = {Oderinwale, T and Ye, Y and Papadaskalopoulos, D and Strbac, G},
doi = {10.1109/PTC.2019.8810584},
publisher = {IEEE},
title = {Impact of energy storage on market-based generation investment planning},
url = {http://dx.doi.org/10.1109/PTC.2019.8810584},
year = {2019}
}

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TY  - CPAPER
AB  - Previous work has analyzed the role of energy storage (ES)  on  generation  investment  planning  through  centralised cost-minimization  models  which  are inherited  from  the  era of regulated electricity utilities. This paper investigates this issue in the context of the deregulated market environment by proposing a  new  strategic  generation  investment  planning   model. The decision  making  of  a  strategic  generation  company  is  modeled through a multi-period bi-level optimization problem, where the upper    level determines    the profit-maximizinginvestment decisions   of   the   generation   company and the lower   level represents themarket clearing process, accounting for the time-coupling operational characteristics of ES. This bi-level problem is solved after converting it to a single-level mixed-integer linear problem (MILP). Case studies demonstrate thatthe introduction of  ES  reduces the  total  generation  capacity  investment  and enhances  investments  in  “must-run”  baseload  generation  over flexible   peaking   generation,   yielding   significant   system   cost savings.
AU  - Oderinwale,T
AU  - Ye,Y
AU  - Papadaskalopoulos,D
AU  - Strbac,G
DO  - 10.1109/PTC.2019.8810584
PB  - IEEE
PY  - 2019///
TI  - Impact of energy storage on market-based generation investment planning
UR  - http://dx.doi.org/10.1109/PTC.2019.8810584
UR  - http://hdl.handle.net/10044/1/70892
ER  -

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Professor Goran Strbac

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