Friday, October 29, 2021 - 11:00am to 12:00pm
Event Calendar Category
Uncategorized
Speaker Name
Liyang Han
Affiliation
Technical University of Denmark
Zoom meeting id
974 6030 4229
Join Zoom meeting
https://mit.zoom.us/j/97460304229
Abstract
As the complexity and uncertainty of modern energy systems grow, we are seeing a growing need for good quality data for improving system and market operations. Traditionally, data in energy operations has largely been regarded as a free and highly accessible commodity, which is in significant contrast to the rising concerns about data privacy. Therefore, recent academic research has been investigating various forms of data markets to incentivize data exchanges.
In this talk, I will be presenting our recent work on a specific type of data market that is based on linear regression frameworks. The chosen use case is wind power forecasting, in which wind agents have the potential to improve their forecasts through gaining access to measurement data from neighboring wind agents. Based on how data payments are determined, I will introduce two market clearing mechanisms: 1) a cooperative game theoretic profit allocation, and 2) a lasso (least absolute shrinkage and selection operator) payment scheme. A comparison of the two payment mechanisms will be presented to show the difference in their preserved market properties and in their levels of incentive for the data sellers and data buyers.
Joint work with Pierre Pinson and Jalal Kazempour.
Biography
Liyang Han is a postdoc researcher at the Energy Analytics and Markets group at the Technical University of Denmark. His current research focuses on the economics of data with applications in renewable energy sources forecasting and other energy applications. Prior to coming to DTU, he received his PhD from the University of Oxford with a thesis focusing on the application of cooperative game theoretic frameworks in prosumer-centric energy markets. He is interested in expanding his research on data markets to broader applications with metrics to measure the feasibility and fairness of such markets.