Optimal planning of slow-ramping power production in energy systems with renewables forecasts and limited storage

Richmond, Nathaniel and Jacko, Peter and Makowski, Armand M. (2014) Optimal planning of slow-ramping power production in energy systems with renewables forecasts and limited storage. In: Probabilistic Methods Applied to Power Systems (PMAPS), 2014 International Conference on. IEEE, pp. 1-6.

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Abstract

We address the cost-efficient operation of an energy production system under renewables uncertainty. We develop an MDP model for an idealized system with the following features: (1) perfectly predictable power demand, (2) a renewable power source subject to uncertain forecast, (3) limited energy storage, (4) an unlimited fast-ramping power source, and (5) a slow-ramping power source which requires (optimal) planning. A finite-horizon stochastic optimization problem is introduced to minimize the overall cost of operating the system, and then solved numerically using standard approaches (based on backward induction) and available data. In contrast with the unit commitment problem which is traditionally optimized for a single planning frame, we show in simple scenarios that it may be beneficial to optimize over a few planning frames, and that there is no benefit to considering longer (e.g., infinite) horizons. We discretize the state space in an attempt to mitigate the curse of dimensionality usually associated with numerically solving MDPs. We note that few discretization states already yield a significant decrease in the total cost.

Item Type:
Contribution in Book/Report/Proceedings
ID Code:
72017
Deposited By:
Deposited On:
03 Dec 2014 09:18
Refereed?:
Yes
Published?:
Published
Last Modified:
22 Jul 2020 08:16