• Learn how to model the operation of power stations, such as thermal power stations and renewables (e.g. wind farms).
• Learn how to model the Energy Storage in electricity grids.
• Learn how to develop the Economic Dispatch model that finds which power stations must produce the electricity needed at the smallest cost.
• How to calculate the Economic value of Energy Storage.
• Learn how to develop optimization models using Python, Pyomo and GAMS; these are languages for developing optimization models.
• Learn how to develop a model for Wind Farms (Renewabes).
• Learn how to model Carbon Dioxide (CO2) constraints to measure the CO2 emissions resulting from electricity generation.
• You will learn important concepts about Electricity grids such as the per-unit system for electricity grids, DC power flow and Reliability Test Systems
• You will learn important Operations-Research concepts such as Convexity, Linearity, Solvers, Optimal solution,
• You can download all the code in Python/Pyomo and GAMS.
• The code & videos are updated regularly. This means that the code will never feel old to you. We update it typically every 6-12 months.
• No need to have prior knowledge of economics, energy or coding. The videos teach the code and theory step-by-step. We start from scratch!
• The Instructor is very responsive! You can send direct messages to the Instructor and get a reply within yours!

In this course, you will learn:

1. How to model the operation of power stations, such as thermal power stations and renewables (e.g. wind farms).

2. How to model the Energy Storage in electricity grids

3. How to calculate the Economic value of Energy Storage

4. How to develop the Economic Dispatch model; this model finds which power stations must produce the electricity needed so that the total electricity generation cost is minimized.

5. How to develop optimization models using Python, Pyomo and GAMS; these are languages for developing optimization models.

6. How to model Carbon Dioxide (CO2) constraints to measure the CO2 emissions resulting from electricity generation.

What is Economic Dispatch

Economic Dispatch is an essential Economic study that determines how electricity grids can operate most economically.

Prior Knowledge

No prior knowledge of economics, energy, or coding is necessary, as the videos provide a step-by-step approach to both theory and code.

Energy Knowledge

You will also learn the following Energy-related skills:

– The per-unit system,

– DC power flow,

– Reliability Test Systems,

– The modelling of electricity grids

– How energy storage operates and how it is modelled in the context of electricity grids

– How wind farms operate and how they are modelled in the context of electricity grids

Operations Research

Additionally, you will learn crucial Operations-Research concepts, including:

– Convexity

– Linearity

– Solvers

– Optimal solution

Downloadable code – Regular updates

You will have access to downloadable code in Python/Pyomo and GAMS, which is regularly updated every 6-12 months.

About the Instructor:

Dr. SGianelos is the founder of the Economics Platform, dedicated to teaching Economic Theory using data science.

The platform is committed to democratizing access to high-quality Economic models at an affordable price.

Visit now our profile to explore our suite of courses.

Who this course is for:

• Economists who want to work in Energy projects.
• Data Scientists who want to apply their skills in Economics and Energy.
• Students who want to work in Economics and Energy.
• Researchers in Economics & Energy.
• Portfolio managers dealing with Energy Assets.
• Software Engineers who want to develop code related to Economics and Energy.
• Operations Research engineers who want to develop Optimization models for Economics and Energy.