Josh
A.
Taylor
Department
of
Electrical
and
Computer
Engineering
University
of
Toronto
Abstract:
It
is
difficult
to
balance
supply
and
demand
of
electric
power
when
wind
and
solar
are
present.
Energy
storage
and
flexible
load
aggregations
can
solve
this
problem
by
storing
power
in
times
of
surplus
and
releasing
power
during
deficits.
Presently,
high
costs
and
technical
complexity
hinder
the
use
of
storage
and
load
flexibility
in
power
systems.
In
this
talk,
we
present
the
financial
storage
right,
a
new
market
mechanism
that
enables
storage
to
participate
in
electricity
markets
in
the
same
manner
as
transmission
lines,
and
further
enables
risk-averse
market
participants
to
hedge
against
price
volatility
due
to
congestion.
In
the
second
part
of
this
talk,
we
look
at
uncertainty
in
demand
response.
The
tradeoff
between
exploration
and
exploitation
arises
because
load
aggregators
must
deploy
loads
to
obtain
up-to-date
information.
We
address
this
tradeoff
with
bandit
and
online
convex
optimization-based
algorithms.
Biography:
Josh Taylor is an assistant professor of Electrical and Computer Engineering and the associate director of the Institute for Sustainable Energy at the University of Toronto. His research focuses on power systems, optimization, and control.
http://www.ele.utoronto.ca/~jtaylor/
If you are interested in meeting with Professor Taylor, please contact John Simpson-Porco (jwsimpson@uwaterloo.ca).