Stochastic Systems

Electricity systems based on renewables have an increasing demand for flexibility. This paper considers the potential of power-to-gas to provide flexibility and enhance system integration of renewables. Existing research on power-to-gas typically analyses the system effects of a predetermined power-to-gas unit without endogenising the investment decision. Moreover, insights related to market and portfolio effects of power-to-gas are rare. To this end this work presents a stochastic electricity market model.
The sustainability of water resources depends on the dynamic interactions among the environmental, technological, and social characteristics of the water system and local population. These interactions can cause supply-demand imbalances at diverse temporal scales, and the response of consumers to water use regulations impacts future water availability. This research develops a dynamic modeling approach to simulate supply-demand dynamics using an agent-based modeling framework that couple models of consumers and utility managers with water system models.