Quantifying the Potential Economic Benefits of Flexible Industrial Demand in the European Power System

Michail Papapetrou, Danny Pudjianto, Predrag Djapic, Dimitrios Papadaskalopoulos, Roberto Moreira, Goran Strbac, Fei Teng, Michael Papapetrou

    Risultato della ricerca: Article

    4 Citazioni (Scopus)

    Abstract

    The envisaged decarbonization of the European power system introduces complex techno-economic challenges to its operation and development. Demand flexibility can significantly contribute in addressing these challenges and enable a cost-effective transition to the low-carbon future. Although extensive previous work has analyzed the impacts of residential and commercial demand flexibility, the respective potential of the industrial sector has not yet been thoroughly investigated despite its large size. This paper presents a novel, whole-system modeling framework to comprehensively quantify the potential economic benefits of flexible industrial demand (FID) for the European power system. This framework considers generation, transmission and distribution sectors of the system, and determines the least-cost long-term investment and short-term operation decisions. FID is represented through a generic, process-agnostic model, which however accounts for fixed energy requirements and load recovery effects associated with industrial processes. The numerical studies demonstrate multiple significant value streams of FID in Europe, including capital cost savings by avoiding investments in additional generation and transmission capacity and distribution reinforcements, as well as operating cost savings by enabling higher utilization of renewable generation sources and providing balancing services.
    Lingua originaleEnglish
    Numero di pagine10
    RivistaIEEE Transactions on Industrial Informatics
    Stato di pubblicazionePublished - 2018

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    Economics
    Decarbonization
    Costs
    Operating costs
    Reinforcement
    Recovery
    Carbon

    All Science Journal Classification (ASJC) codes

    • Control and Systems Engineering
    • Information Systems
    • Computer Science Applications
    • Electrical and Electronic Engineering

    Cita questo

    Papapetrou, M., Pudjianto, D., Djapic, P., Papadaskalopoulos, D., Moreira, R., Strbac, G., ... Papapetrou, M. (2018). Quantifying the Potential Economic Benefits of Flexible Industrial Demand in the European Power System. IEEE Transactions on Industrial Informatics.

    Quantifying the Potential Economic Benefits of Flexible Industrial Demand in the European Power System. / Papapetrou, Michail; Pudjianto, Danny; Djapic, Predrag; Papadaskalopoulos, Dimitrios; Moreira, Roberto; Strbac, Goran; Teng, Fei; Papapetrou, Michael.

    In: IEEE Transactions on Industrial Informatics, 2018.

    Risultato della ricerca: Article

    Papapetrou, M, Pudjianto, D, Djapic, P, Papadaskalopoulos, D, Moreira, R, Strbac, G, Teng, F & Papapetrou, M 2018, 'Quantifying the Potential Economic Benefits of Flexible Industrial Demand in the European Power System', IEEE Transactions on Industrial Informatics.
    Papapetrou, Michail ; Pudjianto, Danny ; Djapic, Predrag ; Papadaskalopoulos, Dimitrios ; Moreira, Roberto ; Strbac, Goran ; Teng, Fei ; Papapetrou, Michael. / Quantifying the Potential Economic Benefits of Flexible Industrial Demand in the European Power System. In: IEEE Transactions on Industrial Informatics. 2018.
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    abstract = "The envisaged decarbonization of the European power system introduces complex techno-economic challenges to its operation and development. Demand flexibility can significantly contribute in addressing these challenges and enable a cost-effective transition to the low-carbon future. Although extensive previous work has analyzed the impacts of residential and commercial demand flexibility, the respective potential of the industrial sector has not yet been thoroughly investigated despite its large size. This paper presents a novel, whole-system modeling framework to comprehensively quantify the potential economic benefits of flexible industrial demand (FID) for the European power system. This framework considers generation, transmission and distribution sectors of the system, and determines the least-cost long-term investment and short-term operation decisions. FID is represented through a generic, process-agnostic model, which however accounts for fixed energy requirements and load recovery effects associated with industrial processes. The numerical studies demonstrate multiple significant value streams of FID in Europe, including capital cost savings by avoiding investments in additional generation and transmission capacity and distribution reinforcements, as well as operating cost savings by enabling higher utilization of renewable generation sources and providing balancing services.",
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    AU - Papapetrou, Michail

    AU - Pudjianto, Danny

    AU - Djapic, Predrag

    AU - Papadaskalopoulos, Dimitrios

    AU - Moreira, Roberto

    AU - Strbac, Goran

    AU - Teng, Fei

    AU - Papapetrou, Michael

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    N2 - The envisaged decarbonization of the European power system introduces complex techno-economic challenges to its operation and development. Demand flexibility can significantly contribute in addressing these challenges and enable a cost-effective transition to the low-carbon future. Although extensive previous work has analyzed the impacts of residential and commercial demand flexibility, the respective potential of the industrial sector has not yet been thoroughly investigated despite its large size. This paper presents a novel, whole-system modeling framework to comprehensively quantify the potential economic benefits of flexible industrial demand (FID) for the European power system. This framework considers generation, transmission and distribution sectors of the system, and determines the least-cost long-term investment and short-term operation decisions. FID is represented through a generic, process-agnostic model, which however accounts for fixed energy requirements and load recovery effects associated with industrial processes. The numerical studies demonstrate multiple significant value streams of FID in Europe, including capital cost savings by avoiding investments in additional generation and transmission capacity and distribution reinforcements, as well as operating cost savings by enabling higher utilization of renewable generation sources and providing balancing services.

    AB - The envisaged decarbonization of the European power system introduces complex techno-economic challenges to its operation and development. Demand flexibility can significantly contribute in addressing these challenges and enable a cost-effective transition to the low-carbon future. Although extensive previous work has analyzed the impacts of residential and commercial demand flexibility, the respective potential of the industrial sector has not yet been thoroughly investigated despite its large size. This paper presents a novel, whole-system modeling framework to comprehensively quantify the potential economic benefits of flexible industrial demand (FID) for the European power system. This framework considers generation, transmission and distribution sectors of the system, and determines the least-cost long-term investment and short-term operation decisions. FID is represented through a generic, process-agnostic model, which however accounts for fixed energy requirements and load recovery effects associated with industrial processes. The numerical studies demonstrate multiple significant value streams of FID in Europe, including capital cost savings by avoiding investments in additional generation and transmission capacity and distribution reinforcements, as well as operating cost savings by enabling higher utilization of renewable generation sources and providing balancing services.

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    KW - Control and Systems Engineering

    KW - Demand flexibility

    KW - Electrical and Electronic Engineering

    KW - Information Systems

    KW - industrial demand

    KW - optimization

    KW - power system

    KW - renewable generation

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