Economic Dispatch in Power Networks with Battery
Steven Low, California Inst. of Technology
Abstract:
We modify the standard economic dispatch model of an electricity network by including battery at each generator site. Transmission grid allows optimization across space, and battery allows optimization across time. We present a finite-horizon optimal control model where the generation costs and demand both vary over time. We show that the shadow price associated with storage decreases in time along the optimal trajectory, and the optimal generation roughly decreases over time.
Biography:
Professor Low's research is currently directed toward the control and optimization of communication networks and protocols. He has developed a duality model of network congestion control that helps understand the current internet congestion control algorithms, expose their deficiencies, and design more efficient ones. He is also interested in digital watermarking and privacy protection.