POWER GRID CONTINUOUS-TIME SCHEDULING, PRICING, & STORAGE OPTIMIZATION

The lag between demand spikes and energy production, a common situation referred to as a ramping scarcity event, results in higher consumer prices, overburdened energy grids, and higher costs to utility companies.

U of U researchers have developed a software suite composed of multiple algorithms that generate continuous-time estimates of the most efficacious strategies for energy pricing, generation, scheduling, and storage. Continuous-time demand optimization is based on marginal pricing, flexible loads, and power generation ramping trajectories. These optimization algorithms have been created to avoid ramping scarcity events, more accurately predict consumer prices, and off-load overburdened energy grids to available energy storage devices.