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SmartGrid Seminar: Wolfgang Ketter, FleetPower: Creating Virtual Power Plants in Sustainable Smart Electricity Markets
Abstract: As the share of renewable energy becomes an increasing part of electricity generation, electric vehicles (EVs) have the potential to be used as virtual power plants (VPP) to provide reliable back-up power. This could generate additional profits for EV carsharing rental firms. We design a computational control mechanism for VPPs that decide whether EVs should be charging, discharging, or rented out. We validate our computational design by developing a discrete-event simulation platform based on real-time GPS information from 1,100 electric cars from Daimler’s carsharing service Car2Go in San Diego, Amsterdam, and Stuttgart. We compute trading prices (bids and asks) for participating in secondary control reserve markets and investigate what effect the density of charging infrastructure, battery technology, and rental demand for vehicles have on the pay-off for the carsharing fleet. We show that VPPs can create sustainable revenue streams for electric vehicle carsharing fleets without compromising their rental business.
Bio: Wolf Ketter is Chaired Professor of Information Systems at the Faculty of Management, Economics, and Social Sciences at the University of Cologne, Cologne, Germany (since 2017). He also serves as the Director of the Institute of Energy Economics at the University of Cologne (EWI) and the Erasmus Centre for Future Energy Business at the Rotterdam School of Management, Erasmus University, Rotterdam, the Netherlands. In 2007, he received his Ph.D. in Computer Science from the University of Minnesota, USA, and started as an Assistant Professor at the Rotterdam School of Management, Erasmus University, NL, was promoted to Associate Professor in 2011 (early tenure), and was named Full Professor in July 2013. He is the founder and director of the Learning Agents Group at Erasmus, the Erasmus Centre for Future Energy Business, and the Chair of the annual Erasmus Energy Forum. He was the president of the Association for Trading Agent Research (ATAR, 2010-2015). ATAR organizes the annual Trading Agent Competition (TAC). Wolf is leading Power TAC (www.powertac.org), a TAC challenge on energy retail markets.