NDLI: Real-Time Price-Based Demand Response Management for Residential Appliances via Stochastic Optimization and Robust Optimization

Content Provider	IEEE Xplore Digital Library
Author	Zhi Chen Lei Wu Yong Fu
Copyright Year	2010
Abstract	This paper evaluates the real-time price-based demand response (DR) management for residential appliances via stochastic optimization and robust optimization approaches. The proposed real-time price-based DR management application can be imbedded into smart meters and automatically executed on-line for determining the optimal operation of residential appliances within 5-minute time slots while considering uncertainties in real-time electricity prices. Operation tasks of residential appliances are categorized into deferrable/non-deferrable and interruptible/non-interruptible ones based on appliances' DR preferences as well as their distinct spatial and temporal operation characteristics. The stochastic optimization adopts the scenario-based approach via Monte Carlo (MC) simulation for minimizing the expected electricity payment for the entire day, while controlling the financial risks associated with real-time electricity price uncertainties via the expected downside risks formulation. Price uncertainty intervals are considered in the robust optimization for minimizing the worst-case electricity payment while flexibly adjusting the solution robustness. Both approaches are formulated as mixed-integer linear programming (MILP) problems and solved by state-of-the-art MILP solvers. The numerical results show attributes of the two approaches for solving the real-time optimal DR management problem for residential appliances.
Starting Page	1822
Ending Page	1831
Page Count	10
File Size	1085102
File Format	PDF
ISSN	19493053
Volume Number	3
Issue Number	4
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2012-12-01
Publisher Place	U.S.A.
Access Restriction	One Nation One Subscription (ONOS)
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Home appliances Electricity Real-time systems Optimization Uncertainty Robustness Stochastic processes stochastic optimization Deferrable task interruptible task real-time price-based demand response management residential appliances robust optimization
Content Type	Text
Resource Type	Article
Subject	Computer Science

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