Business models for virtual power plants and their impact on economic operation [poster & e-slides]

Gary Howorth; Ivana Kockar; Paul Tuohy; Graeme Flett; John Bingham

Business models for virtual power plants and their impact on economic operation [poster & e-slides]

Gary Howorth, Ivana Kockar, Paul Tuohy, Graeme Flett, John Bingham

Research output: Contribution to conference › Poster

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Abstract

Aggregation by Virtual Power Plants to provide flexibility to distribution and transmission networks is seen as an important element in the transition to Net-zero. This paper presents work carried out in the SIES 2022 ERA-Net project, which is investigating in detail the possible provision of flexibility by different technologies but thorough a lens of different business models. Thus, presented work relies on the real use cases and associated data. The focus of this work is on the value of different business models associated with a demonstrator plant in East Kilbride Scotland. Using an adapted business model structure with three strategic dimensions, along with a risk/reward portfolio framework, an illustrative case study is used to highlight the business model choices available to a small VPP owner.

Original language	English
Number of pages	5
Publication status	Published - 12 Jun 2023
Event	27th International Conference on Electricity Distribution (CIRED 2023) - Rome, Rome, Italy Duration: 12 Jun 2023 → 15 Jun 2023 http://www.cired2023.org

Conference

Conference	27th International Conference on Electricity Distribution (CIRED 2023)
Country/Territory	Italy
City	Rome
Period	12/06/23 → 15/06/23
Internet address	http://www.cired2023.org

Keywords

VPP
business models
economics
risk
portfolio management
power markets
virtual power plants

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Howorth-etal-CIRED-2023-Poster-Business-models-for-virtual-power-plants-and-their-impact-on-economic-operationFinal published version, 2.6 MBLicence: Strath_1

Cite this

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title = "Business models for virtual power plants and their impact on economic operation [poster & e-slides]",

abstract = "Aggregation by Virtual Power Plants to provide flexibility to distribution and transmission networks is seen as an important element in the transition to Net-zero. This paper presents work carried out in the SIES 2022 ERA-Net project, which is investigating in detail the possible provision of flexibility by different technologies but thorough a lens of different business models. Thus, presented work relies on the real use cases and associated data. The focus of this work is on the value of different business models associated with a demonstrator plant in East Kilbride Scotland. Using an adapted business model structure with three strategic dimensions, along with a risk/reward portfolio framework, an illustrative case study is used to highlight the business model choices available to a small VPP owner.",

keywords = "VPP, business models, economics, risk, portfolio management, power markets, virtual power plants",

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day = "12",

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T1 - Business models for virtual power plants and their impact on economic operation [poster & e-slides]

AU - Howorth, Gary

AU - Kockar, Ivana

AU - Tuohy, Paul

AU - Flett, Graeme

AU - Bingham, John

PY - 2023/6/12

Y1 - 2023/6/12

N2 - Aggregation by Virtual Power Plants to provide flexibility to distribution and transmission networks is seen as an important element in the transition to Net-zero. This paper presents work carried out in the SIES 2022 ERA-Net project, which is investigating in detail the possible provision of flexibility by different technologies but thorough a lens of different business models. Thus, presented work relies on the real use cases and associated data. The focus of this work is on the value of different business models associated with a demonstrator plant in East Kilbride Scotland. Using an adapted business model structure with three strategic dimensions, along with a risk/reward portfolio framework, an illustrative case study is used to highlight the business model choices available to a small VPP owner.

AB - Aggregation by Virtual Power Plants to provide flexibility to distribution and transmission networks is seen as an important element in the transition to Net-zero. This paper presents work carried out in the SIES 2022 ERA-Net project, which is investigating in detail the possible provision of flexibility by different technologies but thorough a lens of different business models. Thus, presented work relies on the real use cases and associated data. The focus of this work is on the value of different business models associated with a demonstrator plant in East Kilbride Scotland. Using an adapted business model structure with three strategic dimensions, along with a risk/reward portfolio framework, an illustrative case study is used to highlight the business model choices available to a small VPP owner.

KW - VPP

KW - business models

KW - economics

KW - risk

KW - portfolio management

KW - power markets

KW - virtual power plants

UR - https://strathprints.strath.ac.uk/85785/

M3 - Poster

T2 - 27th International Conference on Electricity Distribution (CIRED 2023)

Y2 - 12 June 2023 through 15 June 2023

ER -

Business models for virtual power plants and their impact on economic operation [poster & e-slides]

Abstract

Conference

Keywords

UN SDGs

Access to Document

Other files and links

Fingerprint

SIES 2022: Smart Integrated Energy Systems: Enhanced Virtual Power Plant VPP+ Energy Pool Intergration for Local and Regional Resistance