New Electricity Markets Course Taught by Professor Marija Ilic
Course announcement: Special course 6.S964 Electricity Markets: Innovation at value
TR 9:30 -11:00 am, Room TBD ; Demos/recitations Fri 11-12am Room TBD
Pre-requisites: Basic background in electric power systems and economics.
Lecturer: Marija Ilic EECS, Adjunct Professor
The course offers systems approach to designing, modeling, simulating and decision making for electricity markets is introduced. Emphasis on physically implementable markets, with the review of today's electric power systems operations and planning. A home-grown digital platform used to emulate interactions between market, regulatory and engineering signals. Assessment of the evolution of electric energy markets, with a critical overview of methods for managing uncertainties at value. Links with model predictive decision-making, arbitrage management and the role of digitization (automation, ML/AI) in enabling future performance of electricity markets. Role of flexibility and its value in managing uncertainties, with use cases (hyperscale data centers, renewable intermittent resources, reliability, resilience). Introduction of unified technology-agnostic modeling in terms of energy, power and rate of change of reactive power in support of protocols for efficient physically implementable market concepts. If you want to learn how to become hardware/software innovative expert in cyber-physical systems for supporting the ongoing revolution in electric power industry!
The course bridges EE, economics/finance and CS tools in major ways. We learn what information needs to be sensed, communicated and processed by different embedded cyber systems into physical electric systems and for what purpose. Become a leader in using cyber for sustainable energy systems at value! Exciting term projects (including integration of hyperscale data centers in electricity grids; valuing power electronics for supporting flexibility; integration of storage at value; hybrid use of ML/AI tools for electricity markets.
Please see the course flier, syllabus, and a bit more elaborated motivation and course description.