A Price-elastic Approach for Optimal Scheduling of Small-scale Storage Devices in Smart Houses with Short-term and Long-term Constraints

Abstract

Consecutive charging and discharging of storage devices (SDs) might deem beneficial from short-term operation standpoint; however, it highly impacts life span of the embedded battery and render restrictions on energy storage capacity. This paper studies short-term and long-term restrictions of SDs through a three-stage price-elastic approach to optimal operation of smallscale SDs in smart houses. The first stage deals with data and scenario characterization where required data for determining short-term and long-term operation constraints of SD is acquired. Here, proper number of scenarios are generated to represent uncertain parameters such as long-term demand forecast, daily load profile, electricity price, and PV generation. The second stage optimizes long-term operation of SD using the envisioned scenarios subject to long-term operation constraints and installment cost of SDs. Outputs of this stage are two indicators referred to as price elasticity and price offset coefficients which are used as the input for the third stage. The third stage is responsible for decision making on short-term operation of SDs. Here, the output of second stage along with short-term forecast for daily electricity price, daily load and daily PV generation are acquired. Based on the acquired data, proper price elasticity and price offset are determined for optimal operation. Comprehensive simulations are performed for different demand forecast and grid electricity prices. The results of simulation studies confirm effectiveness of the proposed approach.