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US DoE announces USD25 million funding for PERFORM programme [free access]

April 23, 2020

The US Department of Energy (DoE) has announced USD25 million in funding for 10 projects as part of the Performance-based Energy Resource Feedback, Optimisation, and Risk Management (PERFORM) programme. These projects will help develop innovative management systems that represent the relative delivery risk of each asset, like wind farms or power plants, and balance the collective risk of all assets across the grid.

 

The DoE has granted USD2.4 million for Duke University’s ‘A Grid that’s Risk-Aware for Clean Electricity (GRACE)’; USD2.5 million for Lehigh University’s ‘Application of Banking Scoring and Rating for Coherent Risk Measures in Electricity Systems’; USD3.25 million to Georgia Institute of Technology’s ‘Risk-Aware Market Clearing for Power Systems (RAMC)’; USD3 million to Boston University’s ‘A New Risk Assessment and Management Paradigm (NewRAMP) in Electricity Markets’; USD2.7 million to Rensselaer Polytechnic Institute’s ‘Risk Segmentation and Portfolio Analysis for Pareto Dominance in High Renewable Penetration and Storage Reserves’; USD1.8 million to Castalune, LLC’s ‘Predicting Events to Enable Robust Renewable Grids’; USD2 million to Tabors Caramanis Rudkevich, Inc.’s ‘Stochastic Nodal Adequacy Platform (SNAP)’; USD3.36 million to Energy Trading Analytics, LLC’s ‘Stochastic Market Auction Redesigned Trading System (SMARTS)’; and USD595,000 to Energy and Environmental Economics, Inc’s ‘Deploying E3’s RESERVE Tool to Enable Advanced Operation of Clean Grids’.

 

The PERFORM teams will design risk scores that communicate the delivery risk of an asset’s offer, such as the reliability of electricity from a solar plant due to the weather on a given day. They will also develop grid management systems that internally capture uncertainty and evaluate the system risk to meet or exceed a set baseline. This risk-driven paradigm will enable grid operators to better maintain supply-demand balance and system reliability, even with the intermittency of renewables. In turn, they can optimally manage the system and assess the true value of essential reliability services in real time, allowing for a more diverse energy mix.

 

The modern grid relies on conventional, bulk power plants to provide the flexibility to operate power systems reliably. In general, these assets can guarantee available capacity, except in rare events like the sudden loss of power. The existing risk management strategy protects against those rare events, and aligns well with conventional technologies. However, there is a need for this strategy to be reassessed due to new technologies and a shift in the power generation mix. That shift includes a growing increase in intermittent renewable resources, distributed energy resources (DER), and storage technologies. As emerging technologies are deployed, management systems must be able to leverage all capabilities of these new technologies to maintain an economical and reliable grid. PERFORM projects address that need, by developing methods to quantify and manage risk at the asset level and at the system level for the grid.