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A Capacity-Price Game for Uncertain Renewables Resources

Authors:

Shreyas Sekar, and

Baosen ZhangAuthors Info & Claims

e-Energy '18: Proceedings of the Ninth International Conference on Future Energy Systems

June 2018

Pages 119 - 133

https://doi.org/10.1145/3208903.3208905

Published: 12 June 2018 Publication History

Abstract

Renewable resources are starting to constitute a growing portion of the total generation mix of the power system. A key difference between renewables and traditional generators is that many renewable resources are managed by individuals, especially in the distribution system. In this paper, we study the capacity investment and pricing problem, where multiple renewable producers compete in a decentralized market. It is known that most deterministic capacity games tend to result in very inefficient equilibria, even when there are a large number of similar players. In contrast, we show that due to the inherent randomness of renewable resources, the equilibria in our capacity game becomes efficient as the number of players grows and coincides with the centralized decision from the social planner's problem. This result provides a new perspective on how to look at the positive influence of randomness in a game framework as well as its contribution to resource planning, scheduling, and bidding. We validate our results by simulation studies using real world data.

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Cited By

Li PSekar SZhang B(2022)A Capacity-Price Game for Uncertain Renewables ResourcesIEEE Transactions on Sustainable Computing10.1109/TSUSC.2019.29459037:3(527-536)Online publication date: 1-Jul-2022
https://doi.org/10.1109/TSUSC.2019.2945903
Li PJin BXiong RWang DSangiovanni-Vincentelli AZhang B(2019)A tractable ellipsoidal approximation for voltage regulation problems2019 American Control Conference (ACC)10.23919/ACC.2019.8814798(1301-1306)Online publication date: Jul-2019
https://doi.org/10.23919/ACC.2019.8814798
Ratliff LDong RSekar SFiez T(2019)A Perspective on Incentive Design: Challenges and OpportunitiesAnnual Review of Control, Robotics, and Autonomous Systems10.1146/annurev-control-053018-0236342:1(305-338)Online publication date: 3-May-2019
https://doi.org/10.1146/annurev-control-053018-023634
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Index Terms

A Capacity-Price Game for Uncertain Renewables Resources
1. Mathematics of computing
  1. Probability and statistics
    1. Multivariate statistics
2. Theory of computation
  1. Computational complexity and cryptography
    1. Proof complexity
  2. Design and analysis of algorithms
    1. Mathematical optimization
      1. Continuous optimization
        Nonconvex optimization

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cover image ACM Conferences

e-Energy '18: Proceedings of the Ninth International Conference on Future Energy Systems

June 2018

657 pages

ISBN:9781450357678

DOI:10.1145/3208903

Copyright © 2018 ACM.

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Publication History

Published: 12 June 2018

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e-Energy '18

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SIGCOMM

e-Energy '18: The Ninth International Conference on Future Energy Systems

June 12 - 15, 2018

Karlsruhe, Germany

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Overall Acceptance Rate 160 of 446 submissions, 36%

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Cited By

Li PSekar SZhang B(2022)A Capacity-Price Game for Uncertain Renewables ResourcesIEEE Transactions on Sustainable Computing10.1109/TSUSC.2019.29459037:3(527-536)Online publication date: 1-Jul-2022
https://doi.org/10.1109/TSUSC.2019.2945903
Li PJin BXiong RWang DSangiovanni-Vincentelli AZhang B(2019)A tractable ellipsoidal approximation for voltage regulation problems2019 American Control Conference (ACC)10.23919/ACC.2019.8814798(1301-1306)Online publication date: Jul-2019
https://doi.org/10.23919/ACC.2019.8814798
Ratliff LDong RSekar SFiez T(2019)A Perspective on Incentive Design: Challenges and OpportunitiesAnnual Review of Control, Robotics, and Autonomous Systems10.1146/annurev-control-053018-0236342:1(305-338)Online publication date: 3-May-2019
https://doi.org/10.1146/annurev-control-053018-023634
Zhao CShi MHuang MDu X(2019)Authentication Scheme Based on Hashchain for Space-Air-Ground Integrated NetworkICC 2019 - 2019 IEEE International Conference on Communications (ICC)10.1109/ICC.2019.8761821(1-6)Online publication date: May-2019
https://doi.org/10.1109/ICC.2019.8761821
Zhao DWang HHuang JLin X(2019)Controllable vs. Random: Renewable Generation Competition in a Local Energy MarketICC 2019 - 2019 IEEE International Conference on Communications (ICC)10.1109/ICC.2019.8761733(1-6)Online publication date: May-2019
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