Quantifying Space-Time Load Shifting Flexibility in Electricity MarketsThe power grid is undergoing significant restructuring driven by the adoption
of wind/solar power and the incorporation of new flexible technologies that can
shift load in space and time (e.g., data centers, battery storage, and modular
manufacturing). Load shifting is needed to mitigate space-time fluctuations
associated with wind/solar power and other disruptions (e.g., extreme weather).
The impact of load shifting on electricity markets is typically quantified via
sensitivity analysis, which aims to assess impacts in terms of price volatility
and total welfare. This sensitivity approach does not explicitly quantify
operational flexibility (e.g., range or probability of feasible operation). In
this work, we present a computational framework to enable this; specifically,
we quantify operational flexibility by assessing how much uncertainty in net
loads (which capture uncertain power injections/withdrawals) can be tolerated
by the system under varying levels of load shifting capacity. The proposed
framework combines optimization formulations that quantify operational
flexibility with power grid models that capture load shifting in the form of
virtual links (pathways that transfer load across space-time). Our case studies
reveal that adding a single virtual link that shifts load in either space or
time can lead to dramatic improvements in system-wide flexibility; this is
because shifting relieves space-time congestion that results from transmission
constraints and generator ramping constraints. Our results provide insights
into how the incorporation of flexible technologies can lead to non-intuitive,
system-wide gains in flexibility.
arxiv.org