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Interest in power systems economics is gaining momentum with the recent power supply shortages in America and the rising cost of fossil fuels. The involvement of independent power generators, brokers and distributors has changed the way in which power systems operate. Kirschen and Strbac use a combination of traditional engineering techniques and fundamental economics to address the long-term problems of power system development in a competitive environment. Power system engineers, operators, planners and policy makers working in the deregulated environment will value this practical guide, also of great interest to postgraduate and advanced undergraduate students in electrical and power engineering. Outlines the principles of competitive electricity markets alongside the operation and development of the supporting transmission and distribution networks Applies basic economic principles to power system operating and planning Written by recognised experts in the field For further information and to register for the solutions manual visit: http://www.wiley.com/go/powersystemeconomics
Managing a successful transition of the current energy supply system to less carbon emitting options, ensuring a safe and secure supply during the whole process and in the long term, is one of the largest challenges of our time. Various approaches and first implementations show that it is not only technological issue, but also a matter of societal acceptance and acceptability, considering basic ethic values of the society. The main foci of the book are, thus, to develop an understanding about the specific challenges of the scientific policy advice in the area, to explore typical current approaches for the analysis of future energy systems and to develop criteria for the quality assessment and guidelines for the improvement of such studies. The book provides assistance to the interpretation of existing studies and guidelines for setting up and carrying out new analyses as well as for communicating and applying the results. Thereby, it aims to support the involved actors such as the respective scientific experts and researchers as well as decision makers, energy suppliers, stakeholders and the interested public in designing procedures for a successful transition process. The study elaborates consistent interdisciplinary advice as contribution for realising a continuously safe and secure, long-term viable energy supply in spite of diverse interests, multi-level responsibilities, multi-dimensional processes, large uncertainties and lack of knowledge about future developments.
This book analyzes the energy security of the United States – its ability to obtain reliable, affordable, and sufficient supplies of energy while meeting the goals of achieving environmental sustainability and protecting national security. The economic and national security of the United States is largely dependent upon fossil fuels, especially oil. Without significant changes to current practices and patterns of energy production and use, the domestic and global impacts – security, economic, and environmental – are expected to become worse over the coming decades. Growing US and global energy demands need to be met and the anticipated impacts of climate change must be avoided – all at an affordable price, while avoiding conflict with other nations that have similar goals. Bernell and Simon examine the current and prospective landscape of American energy policy, from tax incentives and mandates at the federal and state level to promote wind and solar power, to support for fracking in the oil and natural gas industries, to foreign policies designed to ensure that markets and cooperative agreements — not armies, navies and rival governments — control the supply and price of energy resources. They look at the variety of energy related challenges facing the United States and argue that public policies designed to enhance energy security have at the same time produced greater insecurity in terms of fostering rising (and potentially unmet) energy needs, national security threats, economic vulnerability, and environmental dangers.
A thoroughly revised new edition of the definitive work on power systems best practices In this eagerly awaited new edition, Power Generation, Operation, and Control continues to provide engineers and academics with a complete picture of the techniques used in modern power system operation. Long recognized as the standard reference in the field, the book has been thoroughly updated to reflect the enormous changes that have taken place in the electric power industry since the Second Edition was published seventeen years ago. With an emphasis on both the engineering and economic aspects of energy management, the Third Edition introduces central "terminal" characteristics for thermal and hydroelectric power generation systems, along with new optimization techniques for tackling real-world operating problems. Readers will find a range of algorithms and methods for performing integrated economic, network, and generating system analysis, as well as modern methods for power system analysis, operation, and control. Special features include: State-of-the-art topics such as market simulation, multiple market analysis, contract and market bidding, and other business topics Chapters on generation with limited energy supply, power flow control, power system security, and more An introduction to regulatory issues, renewable energy, and other evolving topics New worked examples and end-of-chapter problems A companion website with additional materials, including MATLAB programs and power system sample data sets
This handbook serves as a guide to deploying battery energy storage technologies, specifically for distributed energy resources and flexibility resources. Battery energy storage technology is the most promising, rapidly developed technology as it provides higher efficiency and ease of control. With energy transition through decarbonization and decentralization, energy storage plays a significant role to enhance grid efficiency by alleviating volatility from demand and supply. Energy storage also contributes to the grid integration of renewable energy and promotion of microgrid.