Abstract
The increasing attention to environmental issues is forcing the implementation of novel energy models based on renewable sources. This is fundamentally changing the configuration of energy management and is introducing new problems that are only partly understood. In particular, renewable energies introduce fluctuations which cause an increased request for conventional energy sources to balance energy requests at short notice. In order to develop an effective usage of low-carbon sources, such fluctuations must be understood and tamed. In this paper we present a microscopic model for the description and for the forecast of short time fluctuations related to renewable sources in order to estimate their effects on the electricity market. To account for the inter-dependencies in the energy market and the physical power dispatch network, we use a statistical mechanics approach to sample stochastic perturbations in the power system and an agent based approach for the prediction of the market players’ behavior. Our model is data-driven; it builds on one-day-ahead real market transactions in order to train agents’ behaviour and allows us to deduce the market share of different energy sources. We benchmarked our approach on the Italian market, finding a good accordance with real data.
Highlights
The increasing demand for energy, the improved sensitivity to environmental issues, and the need for a secure supply are all contributing to a new vision of energy resource management [1, 2]
Renewable Energy Sources (RES) have a fundamental impact on the functioning of the electricity market due to the technical constraints of power systems, which require an instantaneous balance between power production and demand
The exchanges starts one day ahead on the basis of daily energy demand forecasting and successive market sections refine the offers with the aim of both satisfying the balancing conditions and of preserving the power quality and the security of energy supply
Summary
The increasing demand for energy, the improved sensitivity to environmental issues, and the need for a secure supply are all contributing to a new vision of energy resource management [1, 2]. This new awareness is contributing to the development of a novel approach in energy planning, based on the rational use of local resources [3]. In this contest, distributed energy management is considered one of the viable solutions to integrate local renewable sources and to promote rational use of energy [4]. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
