Ensuring Security and Reducing Price Volatility of Power Systems with Extensive Controllable Load

University Of Tennessee Knoxville, Knoxville TN

Investigators

Abstract

Abstract of NSF Proposal ECCS-1001999 Ensuring Security and Reducing Price Volatility of Power Systems with Extensive Controllable Load The objective of this research is to develop an approach to reduce price volatility while ensuring security in the future power systems with a high penetration of controllable loads. The approach is based on an expanded concept of a critical load level (CLL), where a price step change occurs, combined with a feedback control considering load response to time-delayed price signals. The research will assist the faster adoption of controllable loads and renewable energy as both financial and reliability risk would be reduced. The intellectual merit is based on: feedback control using the concept of CLL as an indicator for system operators to manage end consumers via load-serving entities; models of consumers? behavior when there exists extensive controllable loads; coordination of price-based and direct control during intra-and-inter trading-period among operators, load-serving entities, and consumers; and correlation of economic volatility and physical security. The broader impacts include a model to facilitate the fast integration of controllable loads, renewables and storage dispersed in distribution systems with minimum impact to security in Smart Grids. This has wider implication for integration of renewable energy sources and reduction of greenhouse gases. The education plans emphasizes new interdisciplinary collaboration and recruiting underrepresented students.