The Economics of Microgrids

THE ECONOMICS OF MICROGRIDS

An incisive and practical exploration of the engineering economics of microgrids

In The Economics of Microgrids, a pair of distinguished researchers delivers an expert discussion of the microeconomic perspectives on microgrids in the context of low-carbon, sustainable energy delivery. In the book, readers will explore an engineering economics framework on the investment decisions and capital expenditure analyses required for an assessment of microgrid projects. The authors also examine economic concepts and models for minimizing microgrid operation costs, including the cost of local generation resources and energy purchases from main grids to supply local loads.

The book presents economic models for the expansion of microgrids under load and market price uncertainties, as well as discussions of the economics of resilience in microgrids for optimal operation during outages and power disturbances. Readers will also find:

• A thorough introduction to the engineering and economics of microgrids
• Comprehensive explorations of microgrid planning under uncertainty
• Practical discussions of microgrid expansion planning, operations management, and renewable energy integration
• Fulsome treatments of asset management and resilience economics in microgrids

Perfect for senior undergraduate and graduate students as well as researchers studying power system design, The Economics of Microgrids will also benefit professionals working in the power system industry and government regulators and policymakers with an interest in microgrid technologies and infrastructure.

Amin Khodaei, PhD, is a Professor of Electrical and Computer Engineering at the University of Denver. His research is focused on the climate crisis, the grid of the future, and grid-enabling technologies including artificial intelligence and quantum computing. He has published over 200 peer-reviewed technical articles on various aspects of electric grid modernization.

Ali Arabnya, PhD, (a.k.a. Ali Arab)is a Research Professor of Electrical and Computer Engineering at the University of Denver. Prior, he was a consultant climate economist with the World Bank in Washington, DC. His research is focused on climate resilience, decarbonization, energy systems, and climate finance.