Virtual Storages as Theoretically Motivated Demand Response Models for Enhanced Smart Grid Operations

Abstract

Additional flexibilities on the demand side can be obtained by using price signals to change the consumption behavior of household electricity customers. The present contribution proposes a new theoretically motivated demand response model type called virtual storage. First, the basic model structure of several virtual storage models is introduced. All of these models are based on a system of difference equations that describe load reductions/increases in response to price signals. The virtual storage models differ thereafter in how past or prognosis‐based future price information is considered. After a description of a proposed model validation strategy, the model behavior of several virtual storage models is compared with some of the common demand response model types and with real customer responses to a price signal. Thus, a model comparison is performed on the basis of a real smart meter data set (Olympic Peninsula Project).

Technical Potential of Buildings in Germany as Flexible Power‐to‐Heat Storage for Smart‐Grid Operation

“…Fort echnical potential assessment,t he operationalc onstraintsm atter, but not how we actually interact with the HVAC loads,s uch as by directly controlling them, [8][9][10][30][31][32] by incentivizing through real-time price signals,o rb yf orward contracts rewarding some degreeo ff lexibilityf lat rate. [10,30,40,44,51,52]…”

Energy forecasting tools and services

“…However, it is not the main focus of the present contribution and thus it is not discussed further. Nonetheless, information regarding energy price forecasting and the influence that prices have on load time series forecasts in demand response scenarios can be found in the articles by Aggarwal et al, Klaiber et al, Waczowicz et al, and Weron . Another interesting case, which is not discussed further, is the forecast of time series formed by a combination of both generation—via renewable energy systems—and load (e.g., time series measured at a low voltage substation).…”