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Market abstraction of energy markets and policies - application in an agent-based modeling toolbox
(2023)
In light of emerging challenges in energy systems, markets are prone to changing dynamics and market design. Simulation models are commonly used to understand the changing dynamics of future electricity markets. However, existing market models were often created with specific use cases in mind, which limits their flexibility and usability. This can impose challenges for using a single model to compare different market designs. This paper introduces a new method of defining market designs for energy market simulations. The proposed concept makes it easy to incorporate different market designs into electricity market models by using relevant parameters derived from analyzing existing simulation tools, morphological categorization and ontologies. These parameters are then used to derive a market abstraction and integrate it into an agent-based simulation framework, allowing for a unified analysis of diverse market designs. Furthermore, we showcase the usability of integrating new types of long-term contracts and over-the-counter trading. To validate this approach, two case studies are demonstrated: a pay-as-clear market and a pay-as-bid long-term market. These examples demonstrate the capabilities of the proposed framework.
Dynamic loads significantly impact the structural design of propeller blades due to fatigue and static strength. Since propellers are elastic structures, deformations and aerodynamic loads are coupled. In the past, propeller manufacturers established procedures to determine unsteady aerodynamic loads and the structural response with analytical steady-state calculations. According to the approach, aeroelastic coupling primarily consists of torsional deformations. They neglect bending deformations, deformation velocities, and inertia terms. This paper validates the assumptions above for a General Aviation propeller and a lift propeller for urban air mobility or large cargo drones. Fully coupled reduced-order simulations determine the dynamic loads in the time domain. A quasi-steady blade element momentum approach transfers loads to one-dimensional finite beam elements. The simulation results are in relatively good agreement with the analytical method for the General Aviation propeller but show increasing errors for the slender lift propeller. The analytical approach is modified to consider the induced velocities. Still, inertia and velocity proportional terms play a significant role for the lift propeller due to increased elasticity. The assumption that only torsional deformations significantly impact the dynamic loads of propellers is not valid. Adequate determination of dynamic loads of such designs requires coupled aeroelastic simulations or advanced analytical procedures.