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Publikācija: Stochastic Model for Profitability Evaluation of Demand Response by Electric Thermal Storage

Publication Type Full-text conference paper published in conference proceedings indexed in SCOPUS or WOS database
Funding for basic activity Research project
Defending: ,
Publication language English (en)
Title in original language Stochastic Model for Profitability Evaluation of Demand Response by Electric Thermal Storage
Field of research 2. Engineering and technology
Sub-field of research 2.2 Electrical engineering, Electronic engineering, Information and communication engineering
Research platform None
Authors Zane Broka
Kārlis Baltputnis
Antans Sauļus Sauhats
Līga Kurevska
Gatis Junghāns
Keywords aggregation; balancing; demand response; Monte Carlo
Abstract In this paper, a tool for the economic assessment of a potential demand response asset used for power system balancing is presented. The model tackles uncertainties in electricity market prices and system imbalance by employing Monte Carlo simulations. While the model provides vast customizability options, the potential demand response benefits for a particular type of consumer, smart electric thermal storage, are the focus of the case study. It is found that such type of operations can be economically feasible for the asset owner, but on the condition that sufficient proportion of the balancing renumeration is shared with the owner by the aggregator.
DOI: 10.1109/RTUCON.2018.8659837
Hyperlink: https://ieeexplore.ieee.org/document/8659837 
Reference Broka, Z., Baltputnis, K., Sauhats, A., Sadoviča, L., Junghāns, G. Stochastic Model for Profitability Evaluation of Demand Response by Electric Thermal Storage. In: 2018 IEEE 59th International Scientific Conference on Power and Electrical Engineering of Riga Technical University (RTUCON 2018), Latvia, Riga, 12-14 November, 2018. Piscataway, NJ: IEEE, 2018, pp.449-454. ISBN 978-1-5386-6904-4. e-ISBN 978-1-5386-6903-7. Available from: doi:10.1109/RTUCON.2018.8659837
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ID 28061