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Conference Paper: A new pricing scheme for controlling energy storage devices in smart grid

TitleA new pricing scheme for controlling energy storage devices in smart grid
Authors
KeywordsControl applications
Optimization
Power systems
Issue Date2014
PublisherAmerican Automatic Control Council.
Citation
The 2014 American Control Conference (ACC 2014), Portland, OR., 4-6 June 2014. In American Control Conference Proceedings, 2014, p. 2912–2917 How to Cite?
AbstractImprovement of the overall efficiency of energy infrastructure is one of the main anticipated benefits of the deployment of smart grid technology. Advancement in energy storage technology and two-way communication in the electric network are indispensable components to achieve such a vision, while efficient pricing schemes and appropriate storage management are also essential. In this paper, we propose a novel pricing scheme which permits one to indirectly control the energy storage devices in the grid to achieve a more desirable aggregate demand profile that meets a particular target of the grid operator such as energy generation cost minimization and carbon emission reduction. Such a pricing scheme can potentially be applied to control the behavior of energy storage devices installed for integration of intermittent renewable energy sources that have permission to grid connection and will have broader applications as an increasing number of novel and low-cost energy storage technologies emerge. © 2014 American Automatic Control Council.
Persistent Identifierhttp://hdl.handle.net/10722/201249
ISBN
ISSN

 

DC FieldValueLanguage
dc.contributor.authorZhu, Jen_US
dc.contributor.authorChen, MZen_US
dc.contributor.authorZuo, Z-
dc.contributor.authorDu, B-
dc.date.accessioned2014-08-21T07:19:43Z-
dc.date.available2014-08-21T07:19:43Z-
dc.date.issued2014en_US
dc.identifier.citationThe 2014 American Control Conference (ACC 2014), Portland, OR., 4-6 June 2014. In American Control Conference Proceedings, 2014, p. 2912–2917en_US
dc.identifier.isbn978-14799-3274-0-
dc.identifier.issn0743-1619-
dc.identifier.urihttp://hdl.handle.net/10722/201249-
dc.description.abstractImprovement of the overall efficiency of energy infrastructure is one of the main anticipated benefits of the deployment of smart grid technology. Advancement in energy storage technology and two-way communication in the electric network are indispensable components to achieve such a vision, while efficient pricing schemes and appropriate storage management are also essential. In this paper, we propose a novel pricing scheme which permits one to indirectly control the energy storage devices in the grid to achieve a more desirable aggregate demand profile that meets a particular target of the grid operator such as energy generation cost minimization and carbon emission reduction. Such a pricing scheme can potentially be applied to control the behavior of energy storage devices installed for integration of intermittent renewable energy sources that have permission to grid connection and will have broader applications as an increasing number of novel and low-cost energy storage technologies emerge. © 2014 American Automatic Control Council.-
dc.languageengen_US
dc.publisherAmerican Automatic Control Council.-
dc.relation.ispartofAmerican Control Conference Proceedingsen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectControl applications-
dc.subjectOptimization-
dc.subjectPower systems-
dc.titleA new pricing scheme for controlling energy storage devices in smart griden_US
dc.typeConference_Paperen_US
dc.identifier.emailChen, MZ: mzqchen@hku.hken_US
dc.identifier.authorityChen, MZ=rp01317en_US
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.1109/ACC.2014.6858747-
dc.identifier.scopuseid_2-s2.0-84905706997-
dc.identifier.hkuros233281en_US
dc.identifier.spage2912en_US
dc.identifier.epage2917en_US
dc.publisher.placeUnited States-
dc.customcontrol.immutablesml 141209-

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