Managing Energy Storage in Microgrids: A Multistage Stochastic Programming Approach

2018 ◽  
Vol 9 (1) ◽  
pp. 483-496 ◽  
Author(s):  
Arnab Bhattacharya ◽  
Jeffrey P. Kharoufeh ◽  
Bo Zeng
Keyword(s):  
Energy Storage ◽  
Stochastic Programming ◽  
Programming Approach ◽  
Multistage Stochastic Programming

A multistage stochastic programming approach for capital budgeting problems under uncertainty

2012 ◽  
Vol 24 (1) ◽  
pp. 89-110 ◽  
Author(s):  
P. Beraldi ◽  
A. Violi ◽  
F. De Simone ◽  
M. Costabile ◽  
I. Massabo ◽  
...  
Keyword(s):  
Stochastic Programming ◽  
Capital Budgeting ◽  
Programming Approach ◽  
Multistage Stochastic Programming

scholarly journals Multistage Stochastic Programming for VPP Trading in Continuous Intraday Electricity Markets

2021 ◽  
Author(s):  
Priyanka Shinde ◽  
Iasonas Kouveliotis-Lysikatos ◽  
Mikael Amelin
Keyword(s):  
Stochastic Programming ◽  
Electricity Markets ◽  
Electricity Market ◽  
Power Plants ◽  
Large Scale ◽  
Renewable Energy Sources ◽  
Programming Approach ◽  
Multistage Stochastic Programming ◽  
Hydro Power ◽  
Dual Dynamic Programming

<div>The stochastic nature of renewable energy sources has increased the need for intraday trading in electricity markets. Intraday markets provide the possibility to the market participants to modify their market positions based on their updated forecasts. In this paper, we propose a multistage stochastic programming approach to model the trading of a Virtual Power Plant (VPP), comprising thermal, wind and hydro power plants, in the Continuous Intraday (CID) electricity market. The order clearing in the CID market is enabled by the two presented models, namely the Immediate Order Clearing (IOC) and the Partial Order Clearing (POC). We tackle the proposed problem with a modified version of Stochastic Dual Dynamic Programming (SDDP) algorithm. The functionality of our model is demonstrated by performing illustrative and large scale case studies and comparing the performance with a benchmark model.</div>

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