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Market-oriented Optimisation of Smart Embedded Electricity Networks

Project Aims

This research project aims at developing new computational models and market-based mechanisms for decision support in optimising cost-benefits and pricing options in smart embedded electricity networks, i.e. embedded networks enhanced with distributed generation, storage and demand side management options.

Embedded networks offer electricity market constructs that allow for aggregating and on-selling energy for consumers within multi-tenant precincts in order to improve efficiencies and lower costs for the participants. Distributed generation and storage within the embedded networks together with demand side management technologies and strategies have impact on the demand profile and maximum demand as seen from the external network perspective. The impact of these components has the potential to provide further efficiencies and greater flexibility in seeking advantageous energy contracts with utilities and to minimise the ongoing energy cost to the embedded network participants. The key question is what is the optimal architecture and technology mix of the distributed generation, embedded storage and demand management strategies to yield lowest cost energy supply to the embedded network participants while maximising the economic benefit to the embedded network owner. This research will address that question by focussing on computational market-oriented modelling and optimisation of cost-benefits and pricing options in smart embedded electricity networks.

Research Questions


  • How to computationally model the embedded networks incorporating distributed generation, storage and demand side management options in order to enable market-oriented cost-benefit and pricing optimisation?
  • What is an efficient and effective computational market-oriented mechanism to economically optimise distributed demand response, generation and storage utilisation within a given smart embedded network?
  • How to practically support decision making and solving an (inverse) optimisation problem of finding the most cost-benefit efficient architecture and technology mix for smart embedded networks?

Sponsors

This PhD project is jointly supported by the Centre of GeoExchange and Renewable Energy Infrastructure (CGREI), Piechowski Energy Pty Ltd and the Faculty of Science, Engineering and Technology (FSET), Swinburne University of Technology.

CGREI is a private company established in 2010 by Dr Mirek Piechowski. CGREI is a recipient of the Victorian Government grant to promote and develop industry capabilities in the area of renewable energy infrastructure such as GCHP systems, distributed generation and demand management solutions. CGREI is managed through Piechowski Energy Pty Ltd and carries relevant R&D activities.

Piechowski Energy Pty Ltd was established in 1997 by Dr Mirek Piechowski. The company specialises in innovative and cost effective solutions for clients seeking to improve their profitability and operational efficiency through the efficient use of energy resources. Piechowski Energy will undertake commercialisation of the outcomes of the research and will manage relevant stakeholder engagement.

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