The United States Department of Energy (DOE) Advanced Research Projects Agency-Energy (ARPA-E) seeks to engage the finance, business, actuarial science, operations research, and engineering communities to design innovative risk management strategies for the electric power sector. The electric power sector will need to upgrade from its existing deterministic grid management systems to leverage stochastic models and decision making under increasing uncertainty to support the accelerating integration of stochastic assets (e.g., wind, solar, and particular distributed energy resources).
ARPA-E has released a funding opportunity announcement (FOA) in regards to this pursuit. Through the Performance-based Energy Resource Feedback, Optimization, and Risk Management (PERFORM) program, selected applicants will quantify risk at the asset level and the system level. At the asset level, ARPA-E envisions the design of a risk score/assessment that clearly communicates the physical delivery risk of an asset's offer, similar to the role a credit score plays in determining the creditworthiness of an individual. At the system level, ARPA-E envisions the design of grid management systems that endogenously capture uncertainty and evaluate and hedge the system risk position to meet or exceed an overall system risk index. The anticipated outcome of PERFORM is a transformative and disruptive risk-driven grid management paradigm that optimally utilizes all grid assets (including emerging technologies) to improve social welfare and reliability.
ARPA-E prefers diverse, balanced teams (e.g., finance, engineering, industry partners) that can drive innovative solutions to achieve transformational and disruptive change for industry.
The FOA can be accessed by clicking this link: https://arpa-e-foa.energy.gov/Default.aspx#FoaIdcf23a62d-a269-4369-a408-bfb4ba014f8d
It will also be posted to FedConnect and Grants.gov.
Please contact the email address, ExchangeHelp@hq.doe.gov, for questions regarding ARPA-E's online application portal, ARPA-E eXCHANGE. Please contact the email address, ARPA-E-CO@hq.doe.gov, for questions regarding Funding Opportunity Announcements. ARPA-E will post responses on a weekly basis to any questions that are received. ARPA-E may re-phrase questions or consolidate similar questions for administrative purposes.
On June 17-18, ARPA-E held a workshop on PERFORM. We encourage you to go to the website below to see the presentations from our invited speakers, both from the finance and engineering communities. https://arpa-e.energy.gov/?q=workshop/performance-based-energy-resource-feedback-optimization-and-risk-management
Note that there are separate pursuits beyond this PERFORM Program FOA; see Sections I.F and I.G in the FOA to read about the PERFORM Data Plan and the PERFORM Pilot Projects.If you are interested in being a reviewer, please email: Kory.Hedman@HQ.DOE.GOVNote that ARPA-E will be attending INFORMS 2019 and will have multiple sessions (under PD Kory Hedman) dedicated to PERFORM, the ongoing Grid Optimization (GO) Competition, and other ARPA-E pursuits.
The Institute for Operations Research and the Management Sciences
phone 1 443-757-3500
phone 2 800-4INFORMS (800-446-3676)