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Fundamentals of Power System Economics
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Summary
The book also addresses challenges like system flexibility, demand response, energy storage, and the increased uncertainty in operations due to renewables. It offers detailed treatments of ancillary services, market participants’ strategies, and transmission rights.
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Fundamentals of Power System Economics
$22999
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Unavailable
Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?
This book is suitable for graduate and undergraduate students in engineering and technology fields focused on power systems and electricity markets. It is also valuable for professionals and researchers wanting to deepen their understanding of the economics behind power system operation, especially in the context of integrating renewable energy.
Revised edition of the authors' Fundamentals of power system economics, c2004.
Book Hero Magic formatted this description to make it easier to read. While it's new and
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Description
A new edition of the classic text explaining the fundamentals of competitive electricity markets—now updated to reflect the evolution of these markets and the large scale deployment of generation from renewable energy sources.
The introduction of competition in the generation and retail of electricity has changed the ways in which power systems function. The design and operation of successful competitive electricity markets requires a sound understanding of both power systems engineering and underlying economic principles of a competitive market. This extensively revised and updated edition of the classic text on power system economics explains the basic economic principles underpinning the design, operation, and planning of modern power systems in a competitive environment. It also discusses the economics of renewable energy sources in electricity markets, the provision of incentives, and the cost of integrating renewables in the grid.
Fundamentals of Power System Economics, Second Edition looks at the fundamental concepts of microeconomics, organization, and operation of electricity markets, market participants’ strategies, operational reliability and ancillary services, network congestion and related LMP and transmission rights, transmission investment, and generation investment. It also expands the chapter on generation investments—discussing capacity mechanisms in more detail and the need for capacity markets aimed at ensuring that enough generation capacity is available when renewable energy sources are not producing due to lack of wind or sun.
- Retains the highly praised first edition’s focus and philosophy on the principles of competitive electricity markets and application of basic economics to power system operating and planning.
- Includes an expanded chapter on power system operation that addresses the challenges stemming from the integration of renewable energy sources.
- Addresses the need for additional flexibility and its provision by conventional generation, demand response, and energy storage.
- Discusses the effects of the increased uncertainty on system operation.
- Broadens its coverage of transmission investment and generation investment.
- Supports self-study with end-of-chapter problems and instructors with solutions manual via companion website.
Fundamentals of Power System Economics, Second Edition is essential reading for graduate and undergraduate students, professors, practicing engineers, as well as all others who want to understand how economics and power system engineering interact.
Book Details
INFORMATION
ISBN: 9781119213246
Publisher: John Wiley & Sons Inc
Format: Hardback
Date Published: 14 September 2018
Country: United States
Imprint: John Wiley & Sons Inc
Edition: 2nd edition
Audience: Professional and scholarly
DIMENSIONS
Spine width: 20.0mm
Width: 173.0mm
Height: 246.0mm
Weight: 658g
Pages: 344
About the Author
DANIEL S. KIRSCHEN, PHD, is the Donald W. and Ruth Mary Close Professor of Electrical Engineering at the University of Washington, Seattle, USA.
GORAN STRBAC, PHD, is a Professor of Energy Systems at Imperial College London, UK. He is also a member of the Steering Committee of the SmartGrids European Technology Platform, co-chair of EU WG on Sustainable Districts and Built Environment of Smart Cities, and Director of the UK Centre for Grid Scale Energy Storage.
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Fundamentals of Power System Economics
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