@misc{74822f41e0c24d3ebcef81148210fd04,
title = "Delivery-Risk-Aware Flexibility Scheduling and Dispatch for Aggregated Flexible Loads",
abstract = "Flexible loads like smart thermostats and water heaters can shift energy consumption and provide flexibility to the grid. However, this flexibility is dependent on occupant behavior and can lead to delivery risk, which causes utilities and grid operations to consider them as unreliable for purposes of grid operation. To date, they have not been well integrated into wholesale electricity markets or ancillary service offerings. With proper consideration of uncertainty and risk, these resources can be one of the most cost-effective sources of flexibility. This work uses stochastic optimization to quantify and bid flexibility from a fleet of flexible resources while considering their delivery risk.",
keywords = "DER, energy consumption, flexibility offering, grid operation, virtual battery model",
author = "Mengmeng Cai and Michael Blonsky",
year = "2023",
language = "American English",
series = "Presented at the 2023 INFORMS Annual Meeting, 15-18 October 2023, Phoenix, Arizona",
type = "Other",
}