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Title: An Approach to Uncertainty Identification in the Valuation of Transactive Energy Systems

Abstract

Valuation of transactive energy systems should be supported by a structured and systematic approach to uncertainty identification, assessment, and treatment in the interest of risk-informed decision-making. The proposed approach, a variation of fault tree analysis, is anticipated to support valuation analysts in analyzing conventional and transactive system scenarios. This approach allows for expanding the entire tree up to the level of minute details or collapsing them to a level sufficient enough to get an overview of the problem. Quantification scheme for the described approach lends itself for valuation. The method complements value exchange analysis, simulation, and field demonstration studies. The practicality of the proposed approach is demonstrated through uncertainty assessment of the smart grid interoperability panel peak heat day scenario.

Authors:
 [1];  [2];  [3]
  1. Mem. ASMEPacific Northwest National Laboratory,902 Battelle Boulevard,Richland, WA 99354e-mail: arun.veeramany@pnnl.gov
  2. Pacific Northwest National Laboratory, 902 Battelle Boulevard,Richland, WA 99354e-mail: Jim.Woodward@pnnl.gov
  3. Pacific Northwest National Laboratory,902 Battelle Boulevard,Richland, WA 99354e-mail: donald.hammerstrom@pnnl.gov
Publication Date:
Research Org.:
Pacific Northwest National Lab. (PNNL), Richland, WA (United States)
Sponsoring Org.:
USDOE Office of Energy Efficiency and Renewable Energy (EERE); USDOE Office of Electricity Delivery and Energy Reliability (OE)
OSTI Identifier:
1489206
Report Number(s):
PNNL-SA-126349
Journal ID: ISSN 2332-9017
DOE Contract Number:  
AC05-76RL01830
Resource Type:
Journal Article
Journal Name:
ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems. Part B. Mechanical Engineering
Additional Journal Information:
Journal Volume: 4; Journal Issue: 4; Journal ID: ISSN 2332-9017
Publisher:
American Society of Mechanical Engineers
Country of Publication:
United States
Language:
English
Subject:
valuation, Uncertainity, Risk, Transactive

Citation Formats

Veeramany, Arun, Woodward, James T., and Hammerstrom, Donald J. An Approach to Uncertainty Identification in the Valuation of Transactive Energy Systems. United States: N. p., 2018. Web. doi:10.1115/1.4039465.
Veeramany, Arun, Woodward, James T., & Hammerstrom, Donald J. An Approach to Uncertainty Identification in the Valuation of Transactive Energy Systems. United States. doi:10.1115/1.4039465.
Veeramany, Arun, Woodward, James T., and Hammerstrom, Donald J. Mon . "An Approach to Uncertainty Identification in the Valuation of Transactive Energy Systems". United States. doi:10.1115/1.4039465.
@article{osti_1489206,
title = {An Approach to Uncertainty Identification in the Valuation of Transactive Energy Systems},
author = {Veeramany, Arun and Woodward, James T. and Hammerstrom, Donald J.},
abstractNote = {Valuation of transactive energy systems should be supported by a structured and systematic approach to uncertainty identification, assessment, and treatment in the interest of risk-informed decision-making. The proposed approach, a variation of fault tree analysis, is anticipated to support valuation analysts in analyzing conventional and transactive system scenarios. This approach allows for expanding the entire tree up to the level of minute details or collapsing them to a level sufficient enough to get an overview of the problem. Quantification scheme for the described approach lends itself for valuation. The method complements value exchange analysis, simulation, and field demonstration studies. The practicality of the proposed approach is demonstrated through uncertainty assessment of the smart grid interoperability panel peak heat day scenario.},
doi = {10.1115/1.4039465},
journal = {ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems. Part B. Mechanical Engineering},
issn = {2332-9017},
number = 4,
volume = 4,
place = {United States},
year = {2018},
month = {4}
}