TY - GEN
T1 - On the market effects of queueing energy requests as an alternative to storing electricity
AU - Alizadeh, Mahnoosh
AU - Wang, Zhifang
AU - Scaglione, Anna
AU - Chen, Chen
AU - Kishore, Shalinee
PY - 2012/12/11
Y1 - 2012/12/11
N2 - In the near future, our society will face an inevitable transition from consuming fossil fuels to renewable resources like wind and solar energy. It is mainly envisioned that this shift can happen through a widespread deployment of energy storage devices, clean generation reserves, or by making the demand for electricity more price elastic than what is practiced in the current operational framework. Measures that are employed to make the demand become more elastic are referred to as Demand Response and Demand Side Management. This paper assesses the benefits of adding large reservoirs of schedulable demand on the electricity market and how this can 1) help reduce peak demand; 2) reduce wholesale electricity prices; and 3) enable wide-scale integration of renewables into the electricity generation pool. This demand modification is achieved through buffering energy requests from certain controllable appliances participating in a voluntary Demand Side Management program offered by a utility/aggregator, which we call Digital Direct Load Scheduling. Here, we will mainly focus on proposing a framework through which these reservoirs can be integrated into the wholesale electricity market.
AB - In the near future, our society will face an inevitable transition from consuming fossil fuels to renewable resources like wind and solar energy. It is mainly envisioned that this shift can happen through a widespread deployment of energy storage devices, clean generation reserves, or by making the demand for electricity more price elastic than what is practiced in the current operational framework. Measures that are employed to make the demand become more elastic are referred to as Demand Response and Demand Side Management. This paper assesses the benefits of adding large reservoirs of schedulable demand on the electricity market and how this can 1) help reduce peak demand; 2) reduce wholesale electricity prices; and 3) enable wide-scale integration of renewables into the electricity generation pool. This demand modification is achieved through buffering energy requests from certain controllable appliances participating in a voluntary Demand Side Management program offered by a utility/aggregator, which we call Digital Direct Load Scheduling. Here, we will mainly focus on proposing a framework through which these reservoirs can be integrated into the wholesale electricity market.
UR - http://www.scopus.com/inward/record.url?scp=84870581572&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84870581572&partnerID=8YFLogxK
U2 - 10.1109/PESGM.2012.6345561
DO - 10.1109/PESGM.2012.6345561
M3 - Conference contribution
AN - SCOPUS:84870581572
SN - 9781467327275
T3 - IEEE Power and Energy Society General Meeting
BT - 2012 IEEE Power and Energy Society General Meeting, PES 2012
T2 - 2012 IEEE Power and Energy Society General Meeting, PES 2012
Y2 - 22 July 2012 through 26 July 2012
ER -