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The increasing penetration of Renewable Energy Sources (RES), the liberalization of the electricity markets across the world and devices such as smart meters present the end-users of the power system with new opportunities to decrease their electricity costs or become active electricity market participants. However, the intermittent nature of RES and dynamic electricity prices require tools against uncertainty to protect the end-users from underutilizing their assets. In this work, we examine the effectiveness of Robust Optimization (RO) in maximizing the economic benefit of the owner of a home battery storage system in the presence of uncertainty in dynamic electricity prices. The advantage of the robust model is that it keeps its linear class, thus it is not too computationally intensive to be included in the control algorithm of a residential energy storage controller. In the usecase, the aggregating entity makes requests for flexibility and coordinates 100 such devices using a price signal, while the storage controller is doing dynamic electricity price arbitrage. The results indicated that the RO approach can be beneficial for a non-conservative agent in the case of low daily price fluctuations, while, in summer, when the price fluctuations are higher, uncertainty can be ignored.

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The increasing penetration of intermittent Renewable Energy Sources (RES) such as PV generators in the residential distribution grid raises technical concerns. Residential energy storage is an enabling technology for mitigating the adverse effects of the increasing RES penetration and provides the necessary flexibility for its owner to participate in electricity markets or in market-based control schemes. This paper presents a model for calculating the "cost of use" for Li-Ion batteries. The cost of use depends on the usage pattern of the battery, indicated by the Depth of Discharge (DoD). Knowledge of the "cost of use" is needed for the economic optimization of the PV-storage system and the bid formulation in the electricity market.

The increasing penetration of distributed energy resources (DERs) in the distribution grid, in combination with the liberalization of the electricity markets, introduces smallscale electricity producers in a market architecture designed for large-scale power plants. This work examines a double-auction electricity market for a residential area, designed to facilitate the electricity exchange between local consumers and prosumers. The motivation for implementing such a market is twofold. First, to integrate DERs in the electricity market architecture. Second, to ensure the economic viability of renewable energy generators in the absence of subsidized support schemes. In this work, a local market structure with photovoltaic (PV) generators and dispatchable fuel-based generators is considered as a use-case to examine the efficiency of the local electricity market. The efficiency of the market is determined by comparing the average market price of the double auction to the competitive price of the market operating ideally.