Architecture and Economics for Grid Operation 3.0

This monograph presents a possible research agenda for analytics and control of a deep decarbonized electric grid with pervasive data, interactive consumers, and power electronics interfaces. It focuses on new lines of investigation that are driven by new technological, economical, and policy factors. Conventional monitoring and control of the power grid heavily depends upon the physical principles of the underlying engineering systems. There is however increasing complexity of the physical models compounded by a lack of precise knowledge of their parameters, as well as new uncertainties arising from behavioral, economic, and environmental aspects. On the other hand there is increasing availability of sensory data in the engineering and economic operations and it becomes attractive to leverage such data to model, monitor, analyze, and potentially close control loops over data. The increasing deployment of large numbers of Phasor Measurement Units (PMUs) provides the potential for providing timely and actionable information about the transmission system. Chapter 2 examines a framework for drastically reducing the dimensionality of the high volume streaming data, while preserving its salient features for purposes such as event detection, classification and visualization, and potentially even to close the loop around Le Xie, Meng Wu and P. R. Kumar (2018), “Architecture and Economics for Grid Operations 3.0”, Foundations and Trends R © in Electric Energy Systems: Vol. 2, No. 3, pp 198–323. DOI: 10.1561/3100000007. Full text available at: http://dx.doi.org/10.1561/3100000007