Title :
Modeling for Residential Electricity Optimization in Dynamic Pricing Environments
Author :
Hubert, Tanguy ; Grijalva, Santiago
Author_Institution :
Sch. of Electr. & Comput. Eng., Georgia Inst. of Technol., Atlanta, GA, USA
Abstract :
This paper proposes an energy scheduling model and optimization algorithms for residential electricity consumers who attempt to optimally schedule their electricity consumption, generation and storage in a dynamic pricing environment. We describe an optimization problem which integrates electric, thermodynamic, economic, comfort, and possibly environmental parameters. We present the algorithmic solution and provide simulations results, based on a robust optimization approach which minimizes the impact of stochastic input on the objective function. We argue that the scheduling problem is complex enough to be beyond the analytical capabilities of average residential customers. This result supports the need of scheduling controllers deployed as Home Energy Management Systems (HEMS).
Keywords :
energy management systems; energy storage; optimisation; power consumption; power generation economics; power generation scheduling; power system management; pricing; stochastic processes; algorithmic solution; dynamic pricing environment; economic parameter; electricity consumption; electricity generation; electricity storage; energy scheduling model; environmental parameter; home energy management system; objective function; residential electricity consumer; residential electricity optimization modeling; scheduling controller; stochastic input impact; thermodynamic parameter; Electricity; Heuristic algorithms; Home appliances; Load modeling; Optimization; Pricing; Water heating; Demand response; energy optimization algorithms; home energy management system; smart grid;
Journal_Title :
Smart Grid, IEEE Transactions on
DOI :
10.1109/TSG.2012.2220385