2016
DOI: 10.1145/2897165
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Computational Methods for Residential Energy Cost Optimization in Smart Grids

Abstract: A smart power grid transforms the traditional electric grid into a user-centric, intelligent power network. The cost-saving potential of smart homes is an excellent motivating factor to involve users in smart grid operations. To that end, this survey explores the contemporary cost-saving strategies for smart grids from the users’ perspective. The study shows that optimization methods are the most popular cost-saving techniques reported in the literature. These methods are used to plan scheduling and power util… Show more

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Cited by 32 publications
(19 citation statements)
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“…In matching buyers to sellers, strategies based on auction theory are commonly used. However, their efficiency can be improved by incorporating a prediction algorithm to forecast energy demand and price in the MG [109]. Furthermore, future game theory applications in prosumer energy trading could involve several types of games such as facility-location games, Stackelberg games, advanced hash games, and others.…”
Section: Challenges Facing Energy Trading and Sharing And Future Dirementioning
confidence: 99%
“…In matching buyers to sellers, strategies based on auction theory are commonly used. However, their efficiency can be improved by incorporating a prediction algorithm to forecast energy demand and price in the MG [109]. Furthermore, future game theory applications in prosumer energy trading could involve several types of games such as facility-location games, Stackelberg games, advanced hash games, and others.…”
Section: Challenges Facing Energy Trading and Sharing And Future Dirementioning
confidence: 99%
“…Understanding such individual consumption behavior based on the knowledge transfer from the fusion of extensive data collected from the Advanced Metering Infrastructure (AMI) is an essential step to optimize building energy consumption and consequently the effects of its use. This work is motivated by the hypothesis that an optimal resource allocation of end-user patterns based on daily smart electrical device profiles could be used to smoothly reconcile differences in future energy consumption patterns and the E. Mocanu supply of variable sources such as wind and solar [1]- [3]. It is expected that a cost minimization problem could be solved to activate real-time price responsive behavior [4].…”
Section: Introductionmentioning
confidence: 99%
“…Figure 2 in [156]), but also the numerous recent survey publications on smart grids (e.g. [3,10,30,136,156] [51] and [121].…”
Section: Energy Managementmentioning
confidence: 99%