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Fairness as an Investment: Dynamic Participation and Long-Run Profit in Virtual Power Plants
Announce Type: new Abstract: We show that incorporating fairness constraints into virtual power plant (VPP) operations can incentivize consumer participation and thus improve the aggregator's long-run profitability. VPPs rely on sustained participation from heterogeneous consumers to provide a variety of grid services whose timing and frequency are often uncertain. As a result, consumers' willingness and ability to provide flexibility evolve over time, creating a dynamic link between past...
Utility companies want to pay you to generate power for the electrical grid
HOUSTON — Jeff and Jenny Wright haven’t paid an electric bill for their Houston home in more than a year. Instead, the couple sells their unused power back to the grid in a system that some states hope can offer a way to help meet surging demand for electricity. Americans today pay 40% more, on average, for their electricity than they did just six years ago.