Optimization of Stochastic Lossy Transport Networks and Applications to Power Grids
Stochastic Systems , Volume 11 - Issue 1 p. 34- 59
Motivated by developments in renewable energy and smart grids, we formulate a stylized mathematical model of a transport network with stochastic load fluctuations. Using an affine control rule, we explore the trade-off between the number of controllable resources in a lossy transport network and the performance gain they yield in terms of expected power losses. Our results are explicit and reveal the interaction between the level of flexibility, the intrinsic load uncertainty, and the network structure.
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|Rare events: Asymptotics, Algorithms, Applications|
|Organisation||Centrum Wiskunde & Informatica, Amsterdam (CWI), The Netherlands|
Zocca, A, & Zwart, A.P. (2021). Optimization of Stochastic Lossy Transport Networks and Applications to Power Grids. Stochastic Systems, 11(1), 34–59. doi:10.1287/stsy.2019.0063