Optimization of day-ahead and real-time prices for smart home community

Anees, Amir; Dillon, Tharam S.; Wallis, Steve; Chen, Yi‐Ping Phoebe

doi:10.1016/j.ijepes.2020.106403

Cited by 30 publications

(6 citation statements)

References 37 publications

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“…This result verifies the active role of the smart grid in power system optimization and operating performance improvement. Compared with the traditional power grid, the real-time information sharing capability of the smart grid can strengthen the interaction between the energy supply side and the demand side (Anees et al, 2021). The real-time pricing method reduces the waste of resources due to information asymmetry, and at the same time stimulates consumers' demand for electricity by adjusting electricity prices, and helps enterprises achieve better business performance (Yd and Pei, 2020).…”

Section: Empirical Results and Analysismentioning

confidence: 99%

“…The first type of research mainly analyzes the optimization effect of smart grid real-time pricing on the traditional power system from the perspective of the supply side and the demand side. From the perspective of the supply side, the application of smart grids can reduce battery consumption, reduce battery usage costs and improve the overall operating efficiency of the power system (Anees et al, 2021). From a demand-side perspective, compared with traditional fixed pricing, smart grid real-time pricing can stimulate consumers' demand for electricity purchases (Yd and Pei, 2020).…”

Section: Mechanism Discussion and Theoretical Assumptions The Impact Of Smart Grids On The Operating Performance Of Power Enterprisesmentioning

confidence: 99%

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Regulation Effect of Smart Grid on Green Transformation of Electric Power Enterprises: Based on the Investigation of “Leader” Trap

Zhang

Pratap

et al. 2022

Front. Energy Res.

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The 2060 carbon neutral target reflects the long-term equilibrium and stability of production activities and the natural environment. As an important part of Chinese energy structure, the operation and transformation of power enterprises will face higher requirements. Although the rapid development of smart grids provides necessary technical support for power enterprises to build a modern energy system with green power as the core, whether power enterprises can use smart grids to improve their operating performance and environmental performance has yet to be discussed. The differences caused by the heterogeneity of property rights will also have an impact on the green transformation and development of enterprises. This paper selects 25 Chinese power enterprises as the research objects and uses the 2011–2019 enterprise panel data and the data envelopment analysis model to evaluate the operating performance and environmental performance of power enterprises. The results show that the overall fluctuation trend of the total factor productivity index and green total factor productivity index of power enterprises are W-shaped, and technological progress is the main driving force for the improvement of power operating performance and environmental performance; Compared with enterprises with a single power generation method, enterprises with diversified power generation methods performed better in their overall total factor productivity index. After that, text mining and machine learning methods are used to classify the text of the enterprise’s annual report to determine whether the enterprise applies smart grid technology for production and operation activities. Finally, using feasible generalized least squares method (FLGS) and dynamic panel system generalized moment estimation (SYS-GMM) to analyze the impact of smart grid on the operating performance and environmental performance of power enterprises, and the nature of corporate property rights in this process. It is found that smart grids can improve the operating performance and environmental performance of power enterprises; compared with state-owned enterprises, non-state-owned enterprises can achieve better performance in the application of smart grids to improve operating performance and environmental performance. Finally, this study provides corresponding policy recommendations for power enterprises to achieve performance improvement and green transformation development.

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Section: Empirical Results and Analysismentioning

confidence: 99%

Section: Mechanism Discussion and Theoretical Assumptions The Impact Of Smart Grids On The Operating Performance Of Power Enterprisesmentioning

confidence: 99%

Regulation Effect of Smart Grid on Green Transformation of Electric Power Enterprises: Based on the Investigation of “Leader” Trap

Zhang

Pratap

et al. 2022

Front. Energy Res.

View full text Add to dashboard Cite

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“…However, this study falls short in explaining how the demand of the consumers varies under different conditions (e.g., presence and the type of DERs). In [ 21 ], a usage-based dynamic pricing with privacy preservation for smart grid is proposed. The authors claim that as the proposed work enables the dynamic prices to take into account electricity usage, it can contribute to minimizing consumption costs while maximizing utility for both retailers and consumers.…”

Section: Introductionmentioning

confidence: 99%

Energy Trading among Power Grid and Renewable Energy Sources: A Dynamic Pricing and Demand Scheme for Profit Maximization

Yoo

Jeon

Newaz

et al. 2021

Sensors

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With the technical growth and the reduction of deployment cost for distributed energy resources (DERs), such as solar photovoltaic (PV), energy trading has been recently encouraged to energy consumers, which can sell energy from their own energy storage system (ESS). Meanwhile, due to the unprecedented rise of greenhouse gas (GHG) emissions, some countries (e.g., Republic of Korea and India) have mandated using a renewable energy certificate (REC) in energy trading markets. In this paper, we propose an energy broker model to boost energy trading between the existing power grid and energy consumers. In particular, to maximize the profits of energy consumers and the energy provider, the proposed energy broker is in charge of deciding the optimal demand and dynamic price of energy in an REC-based energy trading market. In this solution, the smart agents (e.g., IoT intelligent devices) of consumers exchange energy trading associated information, including the amount of energy generation, price and REC. For deciding the optimal demand and dynamic pricing, we formulate convex optimization problems using dual decomposition. Through a numerical simulation analysis, we compare the performance of the proposed dynamic pricing strategy with the conventional pricing strategies. Results show that the proposed dynamic pricing and demand control strategies can encourage energy trading by allowing RECs trading of the conventional power grid.

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“…On the electricity demand side, large-scale electric vehicles can be recharged at night when renewable power generation is high (Bayati et al, 2021;Wang et al, 2021b). The dynamic electricity price policy (Anees et al, 2021) also influences the electricity consumption periods of users to ensure smooth and controllable load, thereby addressing the conflict of the load and renewable energy generation with the time scale.…”

Section: Introductionmentioning

confidence: 99%

Modeling and Optimization of Integrated Energy System for Renewable Power Penetration considering Carbon and Pollutant Reduction Systems

et al. 2021

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To address climate change and environmental pollution, an increasing number of renewable energy source generations are connected to the grid; meanwhile, the need for carbon capture and pollutant reduction for traditional energy has increased in urgency. In this study, the dispatch problem for an integrated energy system (IES) is expanded considering renewable penetration, carbon capture, and pollutant reduction. First of all, detailed models of carbon and pollutants reductions systems are set up. Specifically, the carbon capture system’s characteristics, which contribute more flexibility for the conventional power plants, are clarified. In addition, the treatment process of pollutants containing SO2 and NOx is elaborated. Moreover, the structure of an evolutionary IES containing pollutants treatment, battery and thermal energy storage, and carbon capture and storage systems are put forward. On this basis, the model of IES for renewable energy penetration and environmental protection considering the constraint of pollutant ultra-low emissions is set up. Finally, the simulation results show that the proposed approach can improve renewable energy penetration and restrain carbon and pollutants emissions.

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Optimization of day-ahead and real-time prices for smart home community

Cited by 30 publications

References 37 publications

Regulation Effect of Smart Grid on Green Transformation of Electric Power Enterprises: Based on the Investigation of “Leader” Trap

Regulation Effect of Smart Grid on Green Transformation of Electric Power Enterprises: Based on the Investigation of “Leader” Trap

Energy Trading among Power Grid and Renewable Energy Sources: A Dynamic Pricing and Demand Scheme for Profit Maximization

Modeling and Optimization of Integrated Energy System for Renewable Power Penetration considering Carbon and Pollutant Reduction Systems

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