As the share of renewable energy becomes an increasing part of electricity generation, electric vehicles (EVs) have the potential to be used as virtual power plants (VPP) to provide reliable back-up power. This could generate additional profits for EV carsharing rental firms. We design a computational control mechanism for VPPs that decide whether EVs should be charging, discharging, or rented out. We validate our computational design by developing a discrete-event simulation platform based on real-time GPS information from 1,100 electric cars from Daimler's carsharing service Car2Go in San Diego, Amsterdam, and Stuttgart. We compute trading prices (bids and asks) for participating in secondary control reserve markets and investigate what effect the density of charging infrastructure, battery technology, and rental demand for vehicles have on the pay-off for the carsharing fleet. We show that VPPs can create sustainable revenue streams for electric vehicle carsharing fleets without compromising their rental business.
The theme of this quarter's Stanford SmartGrid seminar series is on smart grids and energy systems, scheduled to be held on Thursdays, with speakers from academic institutions and industry.
This quarter's speakers are renowned experts in power and energy systems, and we believe they will bring novel insights and fruitful discussions to Stanford. This seminar is offered as a 1 unit seminar course, CEE 272T/EE292T for interested students. This course can be repeated for credit for the students.
SmartGrid Seminar Organization Team:
- Ram Rajagopal, Assistant Professor, Civil and Environmental Engineering
- Chin-Woo Tan, Director, Stanford Smart Grid Lab
- Wenyuan Tang, Postdoctoral Scholar, Civil and Environmental Engineering
- Yuting Ji, Postdoctoral Scholar, Civil and Environmental Engineering
- Emre Kara, Associate Staff Scientist, SLAC
Wolf Ketter is Chaired Professor of Information Systems at the Faculty of Management, Economics, and Social Sciences at the University of Cologne, Cologne, Germany (since 2017). He also serves as the Director of the Institute of Energy Economics at the University of Cologne (EWI) and the Erasmus Centre for Future Energy Business at the Rotterdam School of Management, Erasmus University, Rotterdam, the Netherlands.
Wolf Ketter's research exploits rapidly evolving computing power and techniques to build and explore new solutions that could not be thought of before. Traditionally, research in business and social environments is built over time, as researchers pick interesting and promising ideas and build a body of research over decades. Ketter is changing this paradigm by building a community of researchers who compete and learn from each other in rapid competitive environments for important societal challenges such as the future of energy markets. Ketter's research is taking the next step of building a community of researchers that will bring about a leapfrogging of research progress. In 2007, he received his Ph.D. in Computer Science from the University of Minnesota, USA, and started as an Assistant Professor at the Rotterdam School of Management, Erasmus University, NL, was promoted to Associate Professor in 2011 (early tenure), and was named Full Professor in July 2013. This was one of the fastest promotions at a top university worldwide. He is the founder and director of the Learning Agents Group at Erasmus, the Erasmus Centre for Future Energy Business, and the Chair of the annual Erasmus Energy Forum. He was the president of the Association for Trading Agent Research (ATAR, 2010-2015). ATAR organizes the annual Trading Agent Competition (TAC). Wolf is leading Power TAC (www.powertac.org), a TAC challenge on energy retail markets.
Wolf Ketter is one of the world's foremost experts in economics-based design of technology artifacts and practical sustainable smart markets. He has served as general chair or program chair of more than 20 international conferences and workshops. His research has been published in various top information systems, and computer science journals such as AI Magazine, Decision Sciences, Decision Support Systems, Electronic Commerce Research and Applications, Energy Economics, Energy Policy, European Journal of Information Systems, Information Systems Research (ISR), International Journal of Electronic Commerce, Machine Learning, MIS Quarterly (MISQ), Management Science, as well as 150 papers in major international conferences.
He has supervised over 10 Ph.D. students and has made fundamental theoretical, empirical, experimental, algorithmic and artifact design contributions to the fields of Information Systems (IS), Machine Learning, Energy Economics and Policy, Computer Science, and Management Science. He serves on the editorial boards of ISR and MISQ, the two top IS journals worldwide. In 2012 he won the prestigious INFORMS ISS Design Science Award and in 2013 he won the runner-up award for the best European IS research paper of the year; awarded jointly by the Association of Information Systems and top European CIOs as the most innovative and commercially applicable research. In 2013 he also won the highly competitive Erasmus Research Institute of Management (ERIM) Top Article Award, and in 2014 the ERIM Impact Award for highly influential research on business and society. You can follow Wolf's activities on Twitter (@wolfketter).