Simulating price responsive distributed resources

Distributed energy resources (DER) include distributed generation, storage, and responsive demand. The integration of DER into the power system control framework is part of the evolutionary advances that allow these resources to actively participate in the energy balance equation. Price can provide a powerful signal for independent decision-making in distributed control strategies. To study the impact of price responsive DER on the electric power system requires generation and load models that can capture the dynamic coupling between the energy market and the physical operation of the power system in appropriate time frames. This paper presents modeling approaches for simulating electricity market price responsive DER, and introduces a statistical mechanics approach to modeling the aggregated response of a transformed electric system of pervasive, transacting DER.

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