Yu Yang
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Bring energy storage and renewable energy to energy systems via market design

Overview

    Renewable energy (RE) and energy storage (ES) are two key technologies to advance the world’s transition towards a sustainable, reliable and flexible energy system. Particularly, the feed-in of RE at scale requires ES to offset the temporal imbalance of supply and demand. Whereas ES is still expensive, pairing renewable generators with isolated ES will make the shaped renewable supply cost-ineffective, raising the economic barriers for their commercial deployment. The manifestation of sharing economy in various realms reveals its potential for bringing in capital-intensive ES in energy systems. Instead of compelling isolated ES installation which are usually under-utilized and not affordable, the ES technologies may be delivered to consumers in a cost-effective way through sharing. For example, multiple consumers within a community can cooperatively invest and share a central ES, Or a third entity can invest bulks of ES to provide ES service to its customers. Both of these sharing paradigms are foreseeable in future energy system, whereas their successful exertion relies on well-defined market mechanism (or ES models) to appropriately “allocate” the benefits of ES among the different stakeholders involved.

    In this project, we have applied game theory (coalition game and stackelberg game) to address the market design of ES sharing for cost-effective renewable integration. Particularly, these works can work as examples how market design can shape the efficiency of resources in energy systems.

Optimal Sharing and Fair Cost Allocation of Community Energy Storage

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Selling Renewable Utilization Service to Consumers via Cloud Energy Storage

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References

  1. Yu Yang, Guoqiang Hu, Costas J. Spanos, “Optimal Sharing and Fair Cost Allocation of Community Energy Storage,” submitted to IEEE Transactions on Smart Grid, under review, 2020.
  2. Yu Yang, Utkarsha Agwan, Guoqiang Hu, Costas J. Spanos, “Selling Renewable Utilization Service to Consumers via Cloud Energy Storage,” under submission, 2020.