Managing Uncertainty and Flexibility in Day-Ahead Electricity Markets
Conference
·
OSTI ID:1995186
Net load imbalances from day ahead forecasts can lead to significant grid operations costs and are expected to increase as variable renewable energy adoption grows. We propose a new wholesale market product to manage the risk of net load imbalances called Flexibility Options. This product relies on probabilistic forecasts to estimate flexibility demand and would be co-optimized in the day-ahead market. We also propose stochastic methods that enable DER and flexible load aggregators to participate in flexibility markets while considering the uncertainty in weather and occupant behavior.
- Research Organization:
- National Renewable Energy Laboratory (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE Advanced Research Projects Agency - Energy (ARPA-E)
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1995186
- Report Number(s):
- NREL/PR-6A40-86693; MainId:87467; UUID:8dbcceb5-1442-4398-8212-4998cc022333; MainAdminID:70191
- Country of Publication:
- United States
- Language:
- English
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