Related papers: Optimal Mechanisms for Demand Response: An Indiffe…
In this chapter, we report on our experience with domestic flexible electric energy demand based on a regular commercial (HVAC)-based heating system in a house. Our focus is on investigating the predictability of the energy demand of the…
The growing amount of intermittent renewables in power generation creates challenges for real-time matching of supply and demand in the power grid. Emerging ancillary power markets provide new incentives to consumers (e.g., electrical…
Many residential prosumers exhibit a high price-tolerance for household electricity bills and a low response to price incentives. This is because the household electricity bills are not inherently high, and the potential for saving on…
Microgrids are local energy systems that integrate energy production, demand, and storage units. They are generally connected to the regional grid to import electricity when local production and storage do not meet the demand. In this…
The so-called Internet of Things (IoT) and advanced communication technologies have already demonstrated a great potential to manage residential energy resources via demand-side management. This work presents a home energy management system…
Energy storage systems (ESS) are pivotal component in the energy market, serving as both energy suppliers and consumers. ESS operators can reap benefits from energy arbitrage by optimizing operations of storage equipment. To further enhance…
Dynamic pricing is commonly used to regulate congestion in shared service systems. This paper is motivated by the fact that in the presence of users with varying price sensitivity (responsiveness), conventional monotonic pricing can lead to…
To accommodate the changes in the nature and pattern of electricity consumption with the available resources, utility companies have introduced a variety of rate structures over the years. This paper develops a comprehensive optimization…
We study the joint scheduling of behind-the-meter distributed energy resources (DERs), including flexible loads, renewable generation, and battery energy storage systems, under net energy metering tariffs with demand charges. The problem is…
Recently there have been several historical changes in electricity networks that necessitate the development of Demand Side Management (DSM). The main objective of DSM is to achieve an aggregated consumption pattern that is efficient in…
We construct an utility-based dynamic asset pricing model for a limit order market. The price is nonlinear in volume and subject to market impact. We solve an optimal hedging problem under the market impact and derive the dynamics of the…
In the context of transition towards cleaner and sustainable energy production, microgrids have become an effective way for tackling environmental pollution and energy crisis issues. With the increasing penetration of renewables, how to…
Demand Response (DR) schemes are effective tools to maintain a dynamic balance in energy markets with higher integration of fluctuating renewable energy sources. DR schemes can be used to harness residential devices' flexibility and to…
We examine the joint investment and operational decisions of a prosumer, a customer who both consumes and generates electricity, under net energy metering (NEM) tariffs. Traditional NEM schemes provide temporally flat compensation at the…
The prospective participation of smart buildings in the electricity system is strongly related to the increasing active role of demand-side resources in the electrical grid. In addition, the growing penetration of smart meters and recent…
Residential Demand Response has emerged as a viable tool to alleviate supply and demand imbalances of electricity, particularly during times when the electric grid is strained due a shortage of supply. Demand Response providers bid…
One of the main challenges in the emerging smart grid is the integration of renewable energy resources (RER). The latter introduces both intermittency and uncertainty into the grid, both of which can affect the underlying energy market. An…
For a large (and recently increasing) number of households, affordability is a major hurdle in accessing sufficient electricity and avoiding service disconnections. For such households, in-home energy rationing, i.e. the need to actively…
The smart grid with its two-way communication and bi-directional power layers is a cornerstone in the combat against global warming. It allows for the large scale adoption of distributed (individually-owned) renewable energy resources such…
Utilities use demand response to shift or reduce electricity usage of flexible loads, to better match electricity demand to power generation. A common mechanism is peak pricing (PP), where consumers pay reduced (increased) prices for…