Systems and methods for managing a renewable power asset

US11416936B1 · kind B1 · utility

Assignee

• FORM ENERGY, INC. · US

Inventors

• Benjamin Michael Jenkins · Durham, US
• Aly Eldeen O. Eltayeb · Cambridge, US
• Marco Ferrara · Boston, US

Key dates

• Filing date: Jun 4, 2020
• Grant date: Aug 16, 2022
• Expiry date: Jun 4, 2040

Classification

• Technology area (CPC H): Electricity
• CPC primary: H02J2300/20
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems, methods, and devices may enable management of a renewable power asset. A control device may generate a Day-Ahead (DA) pricing model, a Real-Time (RT) pricing model and a renewable generation model for the renewable power asset. Optimal DA commitments may be determined, and an optimal RT schedule estimated. A DA power delivery strategy and an RT power delivery strategy may be determined. The determined DA and RT power delivery strategies may be evaluated based on obtained real power prices. The DA and RT power delivery strategies may be redetermined, and the renewable power asset may be controlled to deliver power the DA and RT power delivery strategies. The value of the renewable power asset may be maximized while bounding financial risks and returns associated with scheduling the renewable power asset as tailored to risk preferences of the renewable power asset owner or operator.