Abstract:

Energy storage resources can participate in electricity markets to  earn revenue while aiding cost-effective power system decarbonization.  However, electricity markets were designed based on the  characteristics of thermal generators, and it is critical to develop  new market models and participation strategies better to align energy  storage's profit-driven motives with social welfare. This talk will  introduce approaches to facilitate energy storage integration in  electricity markets from the system operators' and participants'  perspectives, including an agent-based study demonstrating the impact  of storage participation on emissions and system economics, a new  state-of-charge based market model for energy storage and a  model-based learning approach to bid storage in various market environments.

About the Speaker:

Dr. Bolun Xu is an assistant professor at Columbia University, earth,  and environmental engineering, with affiliation in electrical  engineering. He received his Ph.D. degree from the University of  Washington, Seattle, MS degree from ETH Zurich, and BS degree from  Shanghai Jiaotong University, all in electrical engineering. Before  joining Columbia, he was a postdoc at MIT Energy Initiative. His  research focuses on the design and optimization of sustainable energy  and power systems and the integration of new technologies.? He is a  recipient of the NSF CAREER award and the IISE Energy Systems Division  Outstanding Young Investigator Award.