muGrid Analytics will be at the Critical Power Expo from September 12-14, 2017 in Novi, Michigan. Dr. Travis Simpkins will be speaking on Optimal Sizing and Dispatching of Microgrid Components to Maximize Economic Gain and Increase Resiliency. This talk is part of a panel on Evaluating the Microgrid Market and Its Potential as a Critical Power System Solution for Increased Resiliency that is scheduled for 2 PM on Tuesday afternoon.
Here is the abstract for his talk.
There is growing interest in combining renewables such as wind and solar with conventional thermal generation and energy storage to form grid-connected microgrids. These distributed energy resources can be used for economic gain for most of the time, and then islanded from the main grid in the event of a power outage. The key to making microgrids economically viable is to capture revenue from multiple value streams including avoided energy purchases, demand charge reduction, providing ancillary services to the grid and participating in demand response programs.
In this talk we will show how we use mathematical optimization to determine the optimal sizing and dispatching of microgrid components such that the economic return of these systems is maximized across stacked revenue streams. We will explain graphically how the battery serves different applications over the course of the day and year, depending on which generate the most revenue. Then we will show how we use stochastic modeling to quantitatively evaluate the increased resiliency that these systems provide, as well as how to effectively monetize it.
Critical Power Expo is a free conference, so this is a great time to come learn about the role that renewable energy, energy storage, and microgrids can play toward increasing the resiliency of your facility. You just need to register to secure your badge. We’re happy to be part of such an importance conference.
Finding muGrid Analytics at the Critical Power Expo
Travis will be hanging out at the Mesa Technical Associates booth on the expo floor. Mesa is one of our strategic partners and has a long history of delivering turn-key backup power solutions to customers in a variety of applications.