Stochastic Dynamic Programming Models for Co-Optimizing Storage Operations

Wednesday, May 06, 2015
12:00 PM to 1:00 PM
ART 1.102
Free and open to the public

Energy storage, especially distributed storage, has the potential to provide many grid-related services. This inherent flexibility makes storage operations planning a challenging optimization problem. This talk introduces a stochastic dynamic programming model that co-optimizes the use of distributed storage to provide multiple services. An approximation algorithm that can efficiently find near-optimal decision policies is also presented. An illustrative case study and results are also given.

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Ramteen Sioshansi

Ohio State University

Dr. Ramteen Sioshansi is an associate professor in the integrated systems engineering department at The Ohio State University. He has a B.A. in economics and applied mathematics, and an M.S. and Ph.D. in industrial engineering and operations research from the University of California, Berkeley and an M.Sc. in econometrics and mathematical economics from the London School of Economics and Political Science. Prior to joining OSU, he was a postdoctoral researcher at the National Renewable Energy Laboratory. His research focuses on the integration of advanced energy technologies, including renewables, energy storage, and electric transportation, in energy systems. He also works in energy policy and electricity market design, especially as they pertain to advanced energy technologies. He received the 2010 Campbell Watkins Energy Journal Best Paper Award from the International Association for Energy Economics. He is currently serving a two-year term as a member of the U.S. Department of Energy's Electricity Advisory Committee.