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Renewables in electricity markets

46755
Electrical Engineering

About this course

Electricity markets are today central in the way we exchange electricity. The increasing penetration of renewable energy sources in power systems has a substantial and complex impact on these electricity markets. In this context, the objective of this course is to introduce the students to the fundamental aspects of renewable energy in electricity markets, from the point of view of both market operators and market participants.

Learning outcomes

At the end of the course the learner will be able to: Explain the fundamentals of electricity markets Explain various markets, actors, and pricing mechanisms Explain the market-clearing process from both optimization and equilibrium perspectives Describe the impact of renewables on electricity markets Develop mathematical models including optimization and equilibrium problems for clearing various electricity markets Design mathematical models for market participants enabling them to make optimal offering strategy decisions under uncertainty Implement some of these mathematical models in Julia or Python Present, analyze, and interpret the numerical results

Examination

There is no final exam. All exercises must be handed in. The assessment is based on the gruop-reports. If one or both of the reports is not handed in it will not be possible to pass the course.

Course requirements

Students must be familiar with the principles of optimization and linear programming, including duality and optimality Karush–Kuhn–Tucker (KKT) conditions.

Activities

Lectures, exercises, computer exercises, project work.

Additional information

  • Credits
    ECTS 5
  • Level
    Master
  • Contact hours per week
    4
  • Instructors
    Jalal Kazempour
  • Mode of instruction
    Hybrid
If anything remains unclear, please check the FAQ of DTU (Denmark).

Offering(s)

  • Start date

    3 February 2025

    • Ends
      12 May 2025
    • Term *
      unknown
    • Location
      Online
    • Instruction language
These offerings are valid for students of CTU (Czech Republic)