Recognizing Uncertainty with Incentives to Make the Grid Smart and Efficient
John R. Birge
Jerry W. and Carol Lee Levin Professor of Operations Management
University of Chicago Booth School of Business
Improvements in the responsiveness and flexibility of the power grid have the potential of greatly improving the efficiency of providing reliable electricity to support economic growth across the globe. Dynamically adjusting the grid topology alone could, for example, significantly expand the effective capacity of existing systems using renewable resources without substantial generation investments. Realizing this potential, however, requires effective incentives for investors, operating authorities, and their constituents to achieve such gains. To provide these incentives through policies and market design requires careful consideration of uncertainties inherent in the provision of electricity and of producer and consumer reactions to those uncertainties. This talk will discuss the potential gains from smart grid technology and how uncertainty in the availability of supply, particularly from intermittent sources such as wind and solar, can substantially reduce those benefits. Considered examples will include losses and distortions from the combination of deterministic day-ahead and forward transmission right markets with stochastic real-time markets and potential resolutions through stochastic forward markets.
John R. Birge is the Jerry W. and Carol Lee Levin Professor of Operations Management at the University of Chicago Booth School of Business. Previously, he was Dean of the McCormick School of Engineering and Applied Science and Professor of Industrial Engineering and Management Sciences at Northwestern University. He also served as Professor and Chair of Industrial and Operations Engineering at the University of Michigan and established the University of Michigan Financial Engineering Program. He is former Editor-in-Chief of Mathematical Programming, Series B and former President of INFORMS. He has received many honors and awards including the IIE Medallion Award, the INFORMS Fellows Award, the MSOM Society Distinguished Fellow Award, the Harold W. Kuhn Prize, the George E. Kimball Medal, the William Pierskalla Award, and election to the U.S. National Academy of Engineering. He received M.S. and Ph.D. degrees from Stanford University in Operations Research, and an A.B. in Mathematics from Princeton University.
The Evolution of Control for the Smart Transmission Grid
School of EECS
Washington State University
The smart transmission grid is a major topic of discussion but a comprehensive description of such a grid is still developing. It is expected that such a transmission system will have significantly more measurements, communications and control than the present grid but no consensus has been reached on what the specifications of such new functionality should be. Of course, the technical specifications depend on the new applications of monitoring and control that we would like to see for the operation of the grid. Matching the available technology of measurement, communication and control to our wish list of applications is the way to develop this technical vision of the smart grid. In this presentation, we will develop a specific view of what the smart transmission grid will look like and what new monitoring and control functions will be feasible with existing technologies of measurements, communications, computers and controllers. The new development will be mainly in software, which will be covered.
Anjan Bose received his B.Tech. from IIT, Kharagpur, M.S. from Univ. of Calif, Berkeley, and Ph.D. from Iowa State Univ. He has worked for industry, academe and government for 40 years in electric power engineering. He is a Regents Professor and holds the endowed Distinguished Professorship in Power Engineering at Washington State University, where he also served as the Dean of the College of Engineering & Architecture 1998-2005. He has served as a consultant and advisor to utilities and governments on grid issues. He served as a Senior Advisor to the Undersecretary at the U.S. Department of Energy for 18 months. Dr. Bose is a Member of the U.S. National Academy of Engineering, a Foreign Fellow of the Indian National Academy of Engineering and Fellow of the IEEE. He is the recipient of the Herman Halperin Award and the Millennium Medal from the IEEE, and was recognized as a distinguished alumnus by IIT Kharagpur and Iowa State Univ.
Smart Grid: The Role of the Information Sciences
H. Vincent Poor
Michael Henry Strater University Professor of Electrical Engineering
Smart grid involves the imposition of an advanced cyber layer atop the physical layer of the electricity grid in order to improve the efficiency and lower the cost of power use and distribution, and to allow for the effective integration of variable energy sources and storage modes into the grid. This cyber-physical setting motivates the application of many techniques from the information sciences to problems arising in the electricity grid, and considerable research effort has been devoted to such application in recent years. This talk will illustrate this role through examples arising in demand-side management, sensing, communications, and related problems.
H. Vincent Poor is the Michael Henry Strater University Professor of Electrical Engineering at Princeton, where is also the dean of the School or Engineering and Applied Science. His research interests are in the areas of information theory, statistical signal processing and stochastic analysis, and their applications in smart grid, wireless networks and related fields. His publications in these areas include the book Smart Grid Communications and Networking, published by Cambridge University Press in 2012. Dr. Poor is a Fellow of the IEEE and a member of the National Academy of Engineering and the National Academy of Sciences.
Microgrid: A New Hub in Energy Infrastructure
Dr. Mohammad Shahidehpour
Robert W. Galvin Center for Electricity Innovation Professor
Illinois Institute of Technology
Microgrids are small-scale versions of centralized electric power systems. They achieve specific goals of distributed power systems, such as reliability and self-healing, sustainability and diversification of energy sources, and energy efficiency and cost reduction, established by communities in various parts of a large power system. Microgrids integrate renewable resources at the community level and allow for customer participations in the operation of an electricity infrastructure. Microgrids form the building blocks of perfect power systems which promote real-time pricing and demand response, and applications of smart grid to the distributed control of electric power systems. This presentation will highlight some of the key issues with the design and operation of microgrids and discuss the role of recent innovations and, in particular, the significance of smart grid applications to power system operations and control. The presentation will also discuss the development of a microgrid, which is funded by the U.S. Department of Energy and implemented at Illinois Institute of Technology.
Dr. Mohammad Shahidehpour (IEEE Fellow) is Bodine Chair Professor in the Electrical and Computer Engineering Department and Director of the Robert W. Galvin Center for Electricity Innovation at Illinois Institute of Technology in Chicago. He received the IEEE Burke Hayes Award for his research on hydrokinetics, Edison Electric Institute's Power Engineering Educator Award, Innovation Award from the Association of Electrical Engineering Department Heads, Technologist of the Year Award from the Illinois Technology Association, and IEEE/PES Outstanding Power Engineering Educator Award in 2012. He is the Editor-in-Chief of the IEEE Transactions on Smart Grid, Area Editor of IEEE Electrification magazine, Area Editor of IEEE Power and Energy magazine, Associate Editor of Electricity Journal, and an IEEE Distinguished Lecturer. As an IEEE Distinguished Lecturer, he has lectured in 30 countries on smart grid and its role in developing the digital economy. Dr. Shahidehpour received an Honorary Doctorate in 2009 from the Polytechnic University of Bucharest.
For additional information contact Sandra LaPorte: firstname.lastname@example.org 312.567.5199