03/29/2024
By Danielle Fretwell
The Francis College of Engineering, Department of Energy Engineering - Nuclear, invites you to attend a Doctoral Dissertation Proposal defense by Ankit Mishra on: "Energy Systems Modeling"
Candidate Name: Ankit Mishra
Degree: Doctoral
Defense Date: Thursday, April 4, 2024
Time: 3:30-5:30 p.m.
Location: Southwick 250
Committee:
- Advisor Sukesh Aghara, Professor, Chemical Engineering, UML
- Valmor F. de Almeida, Associate Professor, Chemical Engineering, UML
- Jasmina Burek, Assistant Professor, Mechanical and Industrial Engineering, UML
Brief Abstract:
The energy markets are dynamic systems and continue to transform increasing in complexity as the generation capacity on the grid changes to more renewable sources. The diversification of market participants, the deployment of battery energy storage systems (BESS), the advent of consumer-based storage solutions such as electric vehicle (EV) batteries, and the proliferation of behind-the-meter (BTM) solar installations all add to the transformation of the grid. The planning and forecasting tools used by the energy market participants continue to adapt modern modelling and simulation methods to account for this changes.
The integration of intermittent elements into the energy market not only enhances sustainability and energy independence but also introduces complexity in market operations, pricing strategies, and regulatory frameworks. It raises a need for new modelling tools which can assess the economic viability of various energy sources, the feasibility of large-scale integration of intermittent energy sources, and the impact on grid operator, power generators and consumers.
The planned modelling framework broadens its analytical scope to include the response of the large energy markets (such as North America) to the integration of new energy sources and the variation in critical market parameters such as fuel costs, real-time pricing, taxation, and the effects of a competitive market environment on capacity factors and other operational metrics.
Key agencies like the U.S. Energy Information Administration (EIA), International Energy Agency (IEA), Organisation for Economic
Co-operation and Development (OECD), International Renewable Energy Agency (IRENA), and Eurostat provide vital insights into energy dynamics and serve as indispensable sources of Data.
To enhance the assessment of market viability for energy systems, the proposed framework encompasses an iterative process involving an LCOE model and a dispatch model.
1. LCOE Model: The LCOE (Levelized Cost of Electricity) calculator model calculates the LCOE based on inputs such as Overnight Capital Cost (OCC), Discount Rate, Rated Capacity Factor (CF), Plant Life, operational parameters like Operations and Maintenance costs, fuel prices for different energy technologies.
2. Dispatch Model: The dispatch model is an optimization model that determines the optimal dispatch of energy resources to meet demand while minimizing costs, emissions, or other objectives.
3. Integrated Model: This model would consider updated capacity factors, fuel prices, and operational constraints to generate dispatch instructions for energy generation units. By dynamically adjusting dispatch decisions based on real-time data and updated parameters, the dispatch model ensures efficient operation and optimal utilization of energy resources in response to changing market conditions.
The work thus, encompasses research & development of two stand alone models one for estimating Levelized Cost of Electricity (LCOE) and for dispatching optimized dispatch instructions each. Integrating these models iteratively enhances market viability assessments by providing accurate cost estimates and optimal dispatch instructions. This iterative process ensures informed decision-making, facilitating the transition to sustainable energy systems.