{"product_id":"the-economics-of-microgrids-isbn-9781394162451","title":"The Economics of Microgrids","description":"\u003cb\u003eTHE ECONOMICS OF MICROGRIDS\u003c\/b\u003e \u003cp\u003e\u003cb\u003eAn incisive and practical exploration of the engineering economics of microgrids\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eThe Economics of Microgrids\u003c\/i\u003e, a pair of distinguished researchers delivers an expert discussion of the microeconomic perspectives on microgrids in the context of low-carbon, sustainable energy delivery. In the book, readers will explore an engineering economics framework on the investment decisions and capital expenditure analyses required for an assessment of microgrid projects. The authors also examine economic concepts and models for minimizing microgrid operation costs, including the cost of local generation resources and energy purchases from main grids to supply local loads. \u003c\/p\u003e\u003cp\u003eThe book presents economic models for the expansion of microgrids under load and market price uncertainties, as well as discussions of the economics of resilience in microgrids for optimal operation during outages and power disturbances. Readers will also find: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eA thorough introduction to the engineering and economics of microgrids\u003c\/li\u003e \u003cli\u003eComprehensive explorations of microgrid planning under uncertainty\u003c\/li\u003e \u003cli\u003ePractical discussions of microgrid expansion planning, operations management, and renewable energy integration\u003c\/li\u003e \u003cli\u003eFulsome treatments of asset management and resilience economics in microgrids\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003ePerfect for senior undergraduate and graduate students as well as researchers studying power system design, \u003ci\u003eThe Economics of Microgrids\u003c\/i\u003e will also benefit professionals working in the power system industry and government regulators and policymakers with an interest in microgrid technologies and infrastructure. \u003c\/p\u003e\u003cp\u003eAbout the Authors ix\u003c\/p\u003e \u003cp\u003eAcknowledgments xi\u003c\/p\u003e \u003cp\u003eAcronyms xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Fundamentals of Microgrids 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Introduction to Microgrids 1\u003c\/p\u003e \u003cp\u003e1.2 Distributed Energy Resources for Microgrids 3\u003c\/p\u003e \u003cp\u003e1.3 The Role of Microgrid in Power Systems 6\u003c\/p\u003e \u003cp\u003e1.3.1 Reliability 7\u003c\/p\u003e \u003cp\u003e1.3.2 Resiliency 7\u003c\/p\u003e \u003cp\u003e1.3.3 Power Quality 8\u003c\/p\u003e \u003cp\u003e1.4 Microgrid Technologies 8\u003c\/p\u003e \u003cp\u003e1.4.1 Microgrid Power Management and Control 8\u003c\/p\u003e \u003cp\u003e1.4.2 Microgrid Islanding 10\u003c\/p\u003e \u003cp\u003e1.4.3 Microgrid Protection 10\u003c\/p\u003e \u003cp\u003e1.4.4 Microgrid Communications and Human--Machine Interface (HMI) 11\u003c\/p\u003e \u003cp\u003e1.5 Overview 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Microgrid Operations Economics 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Fundamentals of Microgrid Operations Economics 19\u003c\/p\u003e \u003cp\u003e2.2 Dynamics of Optimal Scheduling in Microgrids 21\u003c\/p\u003e \u003cp\u003e2.2.1 \u003ci\u003eT\u003c\/i\u003e -- τ Islanding Criterion 23\u003c\/p\u003e \u003cp\u003e2.3 An Economic Model for Microgrid Optimal Scheduling with Multi-Period Islanding 23\u003c\/p\u003e \u003cp\u003e2.3.1 Grid-Connected Operations 23\u003c\/p\u003e \u003cp\u003e2.3.2 Islanded Operations 26\u003c\/p\u003e \u003cp\u003e2.4 Case Study 28\u003c\/p\u003e \u003cp\u003e2.5 Summary 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Resilience Economics in Microgrids 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 The Art of Resilience 41\u003c\/p\u003e \u003cp\u003e3.2 The Impact of Uncertainty 44\u003c\/p\u003e \u003cp\u003e3.3 An Economic Model for Microgrid Resilience 46\u003c\/p\u003e \u003cp\u003e3.4 Case Study 50\u003c\/p\u003e \u003cp\u003e3.5 Summary 55\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Community Microgrid Operations Management 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Principles of Community Microgrids 59\u003c\/p\u003e \u003cp\u003e4.2 Economic Variables in Community Microgrid Operations 61\u003c\/p\u003e \u003cp\u003e4.3 An Economic Model for Community Microgrid Operations Management 64\u003c\/p\u003e \u003cp\u003e4.3.1 Master Controller 64\u003c\/p\u003e \u003cp\u003e4.3.2 Local Controller 67\u003c\/p\u003e \u003cp\u003e4.3.3 Price Signal Calculation 67\u003c\/p\u003e \u003cp\u003e4.3.4 Uncertainty Consideration 69\u003c\/p\u003e \u003cp\u003e4.4 Case Study 69\u003c\/p\u003e \u003cp\u003e4.5 Summary 75\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Provisional Microgrids for Renewable Energy Integration 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Economic Considerations in Provisional Microgrids 79\u003c\/p\u003e \u003cp\u003e5.2 An Economic Model for Provisional Microgrids 83\u003c\/p\u003e \u003cp\u003e5.2.1 Component Modeling 85\u003c\/p\u003e \u003cp\u003e5.2.2 Problem Formulation 87\u003c\/p\u003e \u003cp\u003e5.3 Case Study 90\u003c\/p\u003e \u003cp\u003e5.3.1 Case 1: A Baseline Case with Load, Non-Dispatchable Generation, and Market Price Uncertainties 92\u003c\/p\u003e \u003cp\u003e5.3.2 Case 2: Considering Uncertainty in the Coupled Microgrid's Available Unused Capacity 93\u003c\/p\u003e \u003cp\u003e5.3.3 Case 2(a): Employing Fast Charge\/Discharge Energy Storage 94\u003c\/p\u003e \u003cp\u003e5.3.4 Case 2(b): Addition of a 1MW Dispatchable Unit 95\u003c\/p\u003e \u003cp\u003e5.4 Summary 96\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Engineering Economics of Microgrid Investments 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Principles of Engineering Economics in Microgrids 99\u003c\/p\u003e \u003cp\u003e6.2 Economic Variables in Microgrid Investments 102\u003c\/p\u003e \u003cp\u003e6.2.1 Reliability 102\u003c\/p\u003e \u003cp\u003e6.2.2 Resiliency 103\u003c\/p\u003e \u003cp\u003e6.2.3 Carbon Emission Reduction 104\u003c\/p\u003e \u003cp\u003e6.2.4 Reduced Costs of Recurring System Upgrades 104\u003c\/p\u003e \u003cp\u003e6.2.5 Energy Efficiency 105\u003c\/p\u003e \u003cp\u003e6.2.6 Power Quality 105\u003c\/p\u003e \u003cp\u003e6.2.7 Lowered Energy Costs 105\u003c\/p\u003e \u003cp\u003e6.3 Capital Expenditure and Cash Flow Analysis for Microgrids 106\u003c\/p\u003e \u003cp\u003e6.3.1 Microgrid with a Single DER 107\u003c\/p\u003e \u003cp\u003e6.3.2 Microgrid with Multiple DERs 109\u003c\/p\u003e \u003cp\u003e6.4 Case Study 111\u003c\/p\u003e \u003cp\u003e6.5 Summary 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Microgrid Planning Under Uncertainty 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Dynamics of Uncertainty in Microgrids 117\u003c\/p\u003e \u003cp\u003e7.2 Economics of Uncertainty in Microgrids 119\u003c\/p\u003e \u003cp\u003e7.3 An Economic Model for Microgrid Planning Under Uncertainty 120\u003c\/p\u003e \u003cp\u003e7.3.1 Microgrid Planning Objective 121\u003c\/p\u003e \u003cp\u003e7.3.2 Planning Constraints 121\u003c\/p\u003e \u003cp\u003e7.3.3 Operational Constraints 122\u003c\/p\u003e \u003cp\u003e7.3.4 Economic Assessment of DER Selection 124\u003c\/p\u003e \u003cp\u003e7.4 Case Study 125\u003c\/p\u003e \u003cp\u003e7.4.1 PDC vs. Chronological Curve 125\u003c\/p\u003e \u003cp\u003e7.4.2 Optimal Microgrid Planning 128\u003c\/p\u003e \u003cp\u003e7.5 Summary 130\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Microgrid Expansion Planning 135\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Principles of Microgrid Expansion 135\u003c\/p\u003e \u003cp\u003e8.2 Economic Variables for Microgrid Expansion 137\u003c\/p\u003e \u003cp\u003e8.2.1 AC vs. DC Microgrid Planning 137\u003c\/p\u003e \u003cp\u003e8.2.2 Hybrid Microgrid Planning 139\u003c\/p\u003e \u003cp\u003e8.3 Economic Viability Assessment Model 140\u003c\/p\u003e \u003cp\u003e8.4 Case Study 145\u003c\/p\u003e \u003cp\u003e8.4.1 Uncertainty Consideration 153\u003c\/p\u003e \u003cp\u003e8.4.2 Computational Complexity 154\u003c\/p\u003e \u003cp\u003e8.5 Summary 154\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Microgrids for Asset Management in Power Systems 159\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Principles of Asset Management 159\u003c\/p\u003e \u003cp\u003e9.2 Economic Variables in Microgrid Asset Management 161\u003c\/p\u003e \u003cp\u003e9.2.1 The IEEE Standard -- Guide for Loading Mineral-Oil-Immersed Transformers 161\u003c\/p\u003e \u003cp\u003e9.2.2 Transformer Asset Management via Microgrid Optimal Scheduling 163\u003c\/p\u003e \u003cp\u003e9.3 An Economic Model for Integration of Microgrids in Asset Management 167\u003c\/p\u003e \u003cp\u003e9.3.1 Microgrid Optimal Scheduling (Master Problem) 169\u003c\/p\u003e \u003cp\u003e9.3.2 Transformer Asset Management (Subproblem) 169\u003c\/p\u003e \u003cp\u003e9.4 Case Study 171\u003c\/p\u003e \u003cp\u003e9.5 Summary 183\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Dynamics of Microgrids in Distribution Network Flexibility 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Principles of Distribution Network Flexibility 187\u003c\/p\u003e \u003cp\u003e10.2 Economic Variables for Microgrids in Electricity Distribution Networks 190\u003c\/p\u003e \u003cp\u003e10.3 Economic Models for Distribution Network Operations Under Microgrid Dynamics 191\u003c\/p\u003e \u003cp\u003e10.3.1 Operation Constraints (Os) 193\u003c\/p\u003e \u003cp\u003e10.3.2 Flexibility Constraints (Fs) 195\u003c\/p\u003e \u003cp\u003e10.3.3 Islanding Considerations 196\u003c\/p\u003e \u003cp\u003e10.4 Case Study 197\u003c\/p\u003e \u003cp\u003e10.5 Summary 206\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Microgrid Operations Under Electricity Market Dynamics 211\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 Principles of Microgrid Operations Under Electricity Markets 211\u003c\/p\u003e \u003cp\u003e11.2 Economic Variables of Electricity Markets in Microgrid Operations 215\u003c\/p\u003e \u003cp\u003e11.3 An Economic Model for Microgrid Operations Planning Under Market Dynamics 217\u003c\/p\u003e \u003cp\u003e11.3.1 Microgrid Level 217\u003c\/p\u003e \u003cp\u003e11.3.2 DMO Level 219\u003c\/p\u003e \u003cp\u003e11.3.3 ISO Level 221\u003c\/p\u003e \u003cp\u003e11.4 Case Study 222\u003c\/p\u003e \u003cp\u003e11.5 Summary 229\u003c\/p\u003e \u003cp\u003eReferences 229\u003c\/p\u003e \u003cp\u003eIndex 233\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eAmin Khodaei, PhD,\u003c\/b\u003e is a Professor of Electrical and Computer Engineering at the University of Denver. His research is focused on the climate crisis, the grid of the future, and grid-enabling technologies including artificial intelligence and quantum computing. He has published over 200 peer-reviewed technical articles on various aspects of electric grid modernization. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eAli Arabnya, PhD,\u003c\/b\u003e (a.k.a. Ali Arab) is a Research Professor of Electrical and Computer Engineering at the University of Denver. Prior, he was a consultant climate economist with the World Bank in Washington, DC. His research is focused on climate resilience, decarbonization, energy systems, and climate finance.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eAn incisive and practical exploration of the engineering economics of microgrids\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eThe Economics of Microgrids\u003c\/i\u003e, a pair of distinguished researchers delivers an expert discussion of the microeconomic perspectives on microgrids in the context of low-carbon, sustainable energy delivery. In the book, readers will explore an engineering economics framework on the investment decisions and capital expenditure analyses required for an assessment of microgrid projects. The authors also examine economic concepts and models for minimizing microgrid operation costs, including the cost of local generation resources and energy purchases from main grids to supply local loads. \u003c\/p\u003e\u003cp\u003eThe book presents economic models for the expansion of microgrids under load and market price uncertainties, as well as discussions of the economics of resilience in microgrids for optimal operation during outages and power disturbances. Readers will also find: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eA thorough introduction to the engineering and economics of microgrids\u003c\/li\u003e \u003cli\u003eComprehensive explorations of microgrid planning under uncertainty\u003c\/li\u003e \u003cli\u003ePractical discussions of microgrid expansion planning, operations management, and renewable energy integration\u003c\/li\u003e \u003cli\u003eFulsome treatments of asset management and resilience economics in microgrids\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003ePerfect for senior undergraduate and graduate students as well as researchers studying power system design, \u003ci\u003eThe Economics of Microgrids\u003c\/i\u003e will also benefit professionals working in the power system industry and government regulators and policymakers with an interest in microgrid technologies and infrastructure.\u003c\/p\u003e","brand":"Wiley-IEEE Press","offers":[{"title":"Default Title","offer_id":47990211739877,"sku":"NP9781394162451","price":125.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781394162451.jpg?v=1761786923","url":"https:\/\/k12savings.com\/es\/products\/the-economics-of-microgrids-isbn-9781394162451","provider":"K12savings","version":"1.0","type":"link"}