Modern Electricity Markets In Smart Grids

Catalog description

This course will introduce the fundamental concepts and formulations associated with restructured electricity markets integrated into smart grids. This course will familiarize students with the following concepts: 1) Transition from Convectional Power Systems to Modern Power Systems, 2) Analysis of Pricing Methods in Restructured Electricity Markets, 3) Analysis of the U.S. Electricity Markets, 4) Energy Trading in Restructured Electricity Markets, 5) Risk Management in Smart Grids Operation, 6) Market Power Analysis Based on Game Theory, and 7) Analysis of Self-healing Smart Grids. Furthermore, group projects will be assigned to students in different groups to review the existing literature in the covered areas and present the knowledge gaps and potential strategies to fill such research gaps, which can be very helpful in identifying the line of their future research. Prerequisite(s): ECE 20200 FOR LEVEL UG WITH MIN. GRADE OF C- Course Learning Outcomes 1. Understand the theory and methods for analysis and control of power systems. 2. Understand the role and function of a power system and its components. 3. Carry out power flow studies of power systems. 4. Understand regulation, stability, and faults. 5. Analyze and design controllers for power systems. 6. Know how to use power analysis and simulation software. View Class Schedule