In this study we evaluate the economic potential for energy arbitrage by simulating operation and resulting profits of a small price-taking storage device in South Korea’s electricity market. As demand for electricity continues to grow, maintaining a balanced power system at all times has...

The validity of the Hotelling’s rule, the fundamental theorem of nonrenewable resource economics, is limited by its partial equilibrium nature. One symptom of this limitation may be the disagreement between the empirical evidence, showing stable or declining resource prices, and the rule,...

The development of human civilization ignites a demand for various natural resources. Nowadays, these resources include not only useful minerals, soil, water, air, flora, or fauna, but also natural forces and other environmental assets determining the quality of human life, such as geographic...

In this short paper we add a non-renewable resource sector to van Zon and Yetkiner (2003) that extended Romer (1990) by including energy consumption of intermediate goods in a context of endogenous and embodied technical change. Van Zon and Yetkiner (2003) showed that the growth rate depends...

Understanding the challenges electrical distribution grids will have to bear in the future is essential to take appropriate measures and ensure electrical grid infrastructure stability. This thesis deploys representative grid models for varying agglomeration scenarios and seasons to investigate...

The variability and intermittency of light intensity, caused by cloud movement and weather conditions, can create fluctuation in the photovoltaic (PV) power generation. In a microgrid with a high PV penetration, these can affect severe microgrid voltage fluctuation problem. However, the battery...

Direct Current (DC) microgrids are expected to become larger due to the rapid growth of DC energy sources and power loads. As the scale of the system expends, the importance of voltage control will be increased to operate power systems stably. Many studies have been performed on voltage control...