arXiv · 2405.15099
Stability analysis of nonlinear stochastic flexibility function in smart energy systems
Abstract
Demand-side management provides a great potential for improving the efficiency and reliability of energy systems. This requires a mechanism to connect the market level and the demand side. The flexibility function is a novel approach that bridges the gap between the markets and the dynamics of physical assets at the lower levels of the energy systems and activates demand-side flexibility with the purpose of decision-making as well as for offering a new framework for balancing and grid services. Employing this function as a key for many decision-making and control algorithms reveals that a mathematically rigorous stability analysis is required for it. In this paper, we investigate the stability properties of two nonlinear flexibility functions, as a dynamic mapping between electricity price and power consumption. Specifically, we analyze the stability of a deterministic flexibility function and an It\^{o} stochastic flexibility function. Simulation results are also provided to demonstrate the dynamics of the flexibility functions and to show that the analytical results hold.
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Seyed Shahabaldin Tohidi, Tobias K. S. Ritschel, Georgios Tsaousoglou, Uffe Høgsbro Thygesen, Henrik Madsen. 2024-05-23. Stability analysis of nonlinear stochastic flexibility function in smart energy systems. https://arxiv.org/abs/2405.15099
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