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The value of storage in electricity distribution: The role of markets

  • Dirk Lauinger
  • Deepjyoti Deka
  • Sungho Shin
    • Categories Energy Tags , , , ,

    Electricity distribution companies deploy battery storage to defer grid upgrades by reducing peak demand. In deregulated jurisdictions, such storage often sits idle because regulatory constraints bar participation in electricity markets. Here, we develop an optimization framework that, to our knowledge, provides the first formal model of market participation constraints within storage investment and operation planning. … Read more

    Dynamic programming approach to adjustable robust optimization

  • Alexander Shapiro
    • Categories Robust Optimization, Stochastic Programming Tags , , , , ,

    In this paper we consider the adjustable robust approach to multistage optimization, for which we derive dynamic programming equations. We also discuss this from a point of view of risk averse stochastic programming. As an example we consider a robust formulation of the classical inventory model and show that, similar to the risk neutral case, … Read more