Speaker: Bolun Xu from Columbia University
Dynamic Operation and Lifetime Valuation for Batteries Participating in Electricity Markets
Seminar Abstract:This talk introduces a generalized framework for valuating batteries based on their degradation mechanism and market signals. The proposed framework follows a dynamic programming approach, and novel solution algorithms are designed to accurately model years of battery degradation accumulation, while simulating high granularity optimal control for batteries over time resolutions of minutes or even seconds, including the capability to model stochastic operations. Results from this research will provide pricing and operation references for new and used batteries in grid-interactive applications, and demonstrate how batteries of different degradation mechanisms should be priced differently.
Speaker Bio: Dr. Bolun Xu is an Assistant Professor of Earth and Environmental Engineering at Columbia University, with affiliation in Electrical Engineering, and a core faculty at the Columbia Electrochemical Energy Center. His research focuses on the design and operation of sustainable energy systems, spanning battery modeling to electricity market design. He received his BS from Shanghai Jiaotong University In 2011, MS from ETH Zurich in 2014, and PhD from University of Washington, Seattle in 2018, all in Electrical Engineering. Before joining Columbia University, he was a postdoctoral associate at MIT from 2018 to 2019, jointly affiliated with MIT Energy Initiative and Lab for Information and Decision Systems.
Seminar is open to all Stanford students, faculty and staff. Register via the RSVP link.