Optimal Online Algorithms for Peak-Demand Reduction Maximization with Energy Storage
Yanfang Mo,
Qiulin Lin,
Minghua Chen
et al.
Abstract:The high proportions of demand charges in electric bills motivate large-power customers to leverage energy storage for reducing the peak procurement from the outer grid. Given limited energy storage, we expect to maximize the peak-demand reduction in an online fashion, challenged by the highly uncertain demands and renewable injections, the non-cumulative nature of peak consumption, and the coupling of online decisions. In this paper, we propose an optimal online algorithm that achieves the best competitive ra… Show more
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