CPS: Medium: Collaborative Research: Smart Power Systems of the Future: Foundations for Understanding Volatility and Improving Operational Reliability

Abstract: This project addresses the impact of the integration of renewable intermittent generation in a power grid. This includes the consideration of sophisticated sensing, communication, and actuation capabilities on the system's reliability, price volatility, and economic and environmental efficiency. Without careful crafting of its architecture, the future smart grid may suffer from a decrease in reliability. Volatility of prices may increase, and the source of high prices may be more difficult to identify because of undetectable strategic policies. This project addresses these challenges by relying on the following components: (a) the development of tractable cross-layer models; physical, cyber, and economic, that capture the fundamental tradeoffs between reliability, price volatility, and economic and environmental efficiency, (b) the development of computational tools for quantifying the value of information on decision making at various levels, (c) the development of tools for performing distributed robust control design at the distribution level in the presence of information constraints, (d) the development of dynamic economic models that can address the real-time impact of consumer's feedback on future electricity markets, and finally (e) the development of cross-layer design principles and metrics that address critical architectural issues of the future grid. This project promotes modernization of the grid by reducing the system-level barriers for integration of new technologies, including the integration of new renewable energy resources. Understanding fundamental limits of performance is indispensable to policymakers that are currently engaged in revamping the infrastructure of our energy system. It is critical that we ensure that the transition to a smarter electricity infrastructure does not jeopardize the reliability of our electricity supply twenty years down the road. The educational efforts and outreach activities will provide multidisciplinary training for students in engineering, economics, and mathematics, and will raise awareness about the exciting research challenges required to create a sustainable energy future.