NDLI: A new residential demand response management method based on a social welfare optimization framework

Content Provider	IEEE Xplore Digital Library
Author	Sabounchi, M. Khazaei, H. Sani, S.K.H.
Copyright Year	2014
Description	Author affiliation: Ferdowsi Univ. of Mashhad, Mashhad, Iran (Sabounchi, M.; Sani, S.K.H.) \|\| Amirkabir Univ. of Technol., Tehran, Iran (Khazaei, H.)
Abstract	In this paper, our goal is to define a method of welfare maximization in which the level of customers' social welfare, before and after changing the pricing policy from a flat pricing method to a real time one, remain unchanged. Each user is given a smart meter that monitors their electricity usage and at the same time informs the customers of the new prices at the start of each hour. The new price signal is comprised of time and usage dependent parameters. This new pricing method encourages users to reshape their usage algorithm towards a responsible model in which the load peak and electricity costs for the users are reduced. In order to do so a cost function named welfare function, is introduced that minimizing it, will result in fulfillment of aforementioned goals. By implementing these new pricing methods and optimizing power consumption, the load peak will reduce by 21% and the cost of users' electricity bill will decrease by 16% and at the same time the total welfare level will remain nearly the same.
Starting Page	146
Ending Page	151
File Size	2580234
Page Count	6
File Format	PDF
ISBN	9781479972012
DOI	10.1109/ICEESE.2014.7154611
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2014-12-09
Publisher Place	Malaysia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Demand Response Home appliances Power demand Social Welfare Pricing Real-Time Pricing Cost function Systems engineering and theory Load Shedding Real-time systems Linear Programming
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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