Evaluating Flexibility of Business Models for Distributed Energy Resource Aggregators

Beus, Mateo; Pavić, Ivan; Pandžić, Hrvoje; Capuder, Tomislav; Štritof, Ivona; Andročec, Ivan

doi:10.1109/eem.2018.8469776

Cited by 5 publications

(1 citation statement)

References 2 publications

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“…The literature about aggregators is extensive and covers a broad area, from describing the value of aggregators for the electricity system [10,11] and consumers [12], to aggregator profit maximization through optimal scheduling [13,14], to aggregator behavior in the electricity markets [15][16][17][18][19][20][21]. The literature on DR and aggregator participation in electricity markets has shown that DR can be an effective tool for balancing supply and demand on the grid and that aggregators can play an important role in providing flexibility and balancing services [22][23][24][25][26]. Aggregators' business models have been thoroughly researched [27][28][29][30][31][32].…”

Section: Literature Review Of Types Of Markets In Which Aggregators C...mentioning

confidence: 99%

Unlocking the Value of Aggregated Demand Response: A Survey of European Electricity Markets

Božičević Vrhovčak,

Malbašić

2023

Energies

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This paper focuses on the possible roles of aggregators in the European electricity markets and the challenges and opportunities they face in participating in different market segments. Demand response (DR) is becoming increasingly important with the growth of renewable energy, and aggregators can play a critical role in balancing supply and demand in real time. This paper provides an overview of prices in electricity markets in which DR aggregators can participate and provides recommendations for aggregators regarding which markets to focus on. However, the regulatory framework for aggregators is still evolving in Europe, creating challenges for them to navigate different market designs, regulatory frameworks, and pricing mechanisms. Through a combination of literature review and data analysis, this paper aims to provide insights for aggregators on how to maximize profits and minimize risks in the European electricity market. The article achieves this by conducting an extensive analysis of various markets, comparing their essential attributes relevant to the functioning of aggregators.

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Section: Literature Review Of Types Of Markets In Which Aggregators C...mentioning

confidence: 99%

Unlocking the Value of Aggregated Demand Response: A Survey of European Electricity Markets

Božičević Vrhovčak,

Malbašić

2023

Energies

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Flexibility Characterization, Aggregation, and Market Design Trends with a High Share of Renewables: a Review

Granado

Rajasekharan

Pandiyan

et al. 2023

Curr Sustainable Renewable Energy Rep

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Purpose of Review Balancing a large share of solar and wind power generation in the power system will require a well synchronized coordination of all possible flexibility sources. This entails developing market designs that incentivize flexibility providers, and define new flexibility products. To this end, the paper reviews latest trends in the characterization of flexibility by understanding its dimensions in terms of time, spatiality, resource type, and associated risks. Also, as aggregators have emerged as important actors to deliver, and to reward end-user flexibility, the paper reviews latest trends in the topic. Recent Findings The review reports latest trends and discussions on power system flexibility and their relations to market design. The current academic literature indicates that there are open question and limited research on how to reward short-term flexibility while considering its long-term economic viability. Demand-side flexibility through aggregation holds great potential to integrate renewables. Summary Research in power system flexibility has to put effort on analysing new time-structures of electricity markets and define new marketplaces that consider the integration of new flexibility products, actors (e.g. aggregators, end-users), and mechanisms (e.g. TSO-DSO coordination).

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Decentralized IoT Platform for Flexibility Service Providers in Power Systems

Hrga

Capuder

Žarko

2021

2021 IEEE International Conference on Blockchain (Blockchain)

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Evaluating Flexibility of Business Models for Distributed Energy Resource Aggregators

Cited by 5 publications

References 2 publications

Unlocking the Value of Aggregated Demand Response: A Survey of European Electricity Markets

Unlocking the Value of Aggregated Demand Response: A Survey of European Electricity Markets

Flexibility Characterization, Aggregation, and Market Design Trends with a High Share of Renewables: a Review

Decentralized IoT Platform for Flexibility Service Providers in Power Systems

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