Abstract
The uncertainties in the renewable outputs are challenging the reliable operation of the grid. Integrating more storage systems is considered a promising solution as they provide the most urgently needed flexibility to the grid. However, it is challenging to coordinate a large number of storage systems due to their heterogeneous requirements. In this paper, we utilize the notion of the mean field game (MFG) to tackle this challenge. Specifically, we consider the carbon emission-aware storage control in an electricity market with carbon tax. The storage systems are allowed to arbitrage, and yet their behaviors are coupled through the market, yielding the MFG formulation. We first show the existence and uniqueness of the MFG equilibrium, and then design a dynamic programming algorithm to achieve the MFG equilibrium. Numerical studies further demonstrate the proposed MFG algorithm’s effectiveness in terms of both benefiting the storage systems and reducing carbon emissions.
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