Smart Operation of Smart Grid: Risk-Limiting Dispatch

By Pravin Pratap Varaiya, Felix F. Wu, Janusz W. Bialek. Proceedings of the IEEE, 2011

532 citations recorded by the source corpus.

The drastic reduction of carbon emission to combat global climate change cannot be realized without a significant contribution from the electricity sector. Renewable energy resources must take a bigger share in the generation mix, effective demand response must be widely implemented, and high-capacity energy storage systems must be developed. A smart grid is necessary to manage and control the increasingly complex future grid. Certain smart grid elements-renewables, storage, microgrid, consumer choice, and smart appliances-increase uncertainty in both supply and demand of electric power. Other smart gird elements-sensors, smart meters, demand response, and communications-provide more accurate information about the power system and more refined means of control. Simply building hardware for renewable generators and the smart grid, but still using the same operating paradigm of the grid, will not realize the full potential for overall system efficiency and carbon reduction. In this paper, a new operating paradigm, called risk-limiting dispatch, is proposed. It treats generation as a heterogeneous commodity of intermittent or stochastic power and uses information and control to design hedging techniques to manage the risk of uncertainty.

Subfields: Control and Systems Engineering, Electrical and Electronic Engineering

View Paper: https://www.semanticscholar.org/paper/8b6827052b92ec4abfbcda9d86aec1bf5d485b48

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In Control and Systems Engineering

In Electrical and Electronic Engineering

Citations in the corpus

Opportunities and Challenges of Vehicle-to-Home, Vehicle-to-Vehicle, and Vehicle-to-Grid Technologies (2013, background): “Hence, the power grid needs to be compensated or regulated [9]–[12].”
Competition in Electricity Markets with Renewable Energy Sources (2017, background): “Varaiya, Wu and Bialek (2011); Rajagopal et al. (2012); Nair, Adlakha and Wierman (2014) study long-term contracts in the presence of renewable energy supplies.”
A Two-Layer Energy Management System for Microgrids With Hybrid Energy Storage Considering Degradation Costs (2018, background): “and progressively reduces half to 5%-6% for one hour-ahead forecast [23].”
Demand-Side Management via Distributed Energy Generation and Storage Optimization (2013, background): “Hence, we have that (8) where is a sufficiently small positive constant.”
A Survey on Demand Response Programs in Smart Grids: Pricing Methods and Optimization Algorithms (2015, unknown): “The design of efficient DR programs is a crucial component for the smart grid deployment [13].”
State of the Art in Research on Microgrids: A Review (2015, background): “In [54], a new operating paradigm is proposed, called risk-limiting dispatch, that uses real-time information about supply and demand obtained from the smart grid, taking into account the stochastic nature of renewable sources and DR.”
Convex Relaxation of Optimal Power Flow—Part I: Formulations and Equivalence (2014, unknown): “5”
Trends in Microgrid Control (2014, background): “In the US, the state of California has set a target of 33% for the retail load to be served from renewable sources by 2020 [2], [3].”