Meeting inelastic demand in systems with storage and renewable sources

Natarajan Gautam, Yunjian Xu, Jeremy T. Bradley

Research output: Chapter in Book/Report/Conference proceedingConference contribution

5 Scopus citations

Abstract

We consider a system where inelastic demand for electric power is met from three sources: the grid, in-house renewables such as wind turbines or solar panels, and an in-house energy storage device. In our setting, power demand, renewable power supply, and cost for grid power are all time-varying and stochastic. Further, there are limits and efficiency issues for charging and discharging the energy storage device. Under such a scenario, at all times across an infinite horizon, we need to determine how to split power demand among the various sources. For that, we formulate an optimization framework that minimizes the long-run average operational cost subject to satisfying demand and meeting capacity constraints. To determine the optimal actions, we construct a dynamic program with parameters estimated from a training data set (that uses real demand, supply and cost data). As the dynamic program is computationally intensive for large-scale problems, we explore an algorithm based on approximate dynamic programming, and apply it to a test data set. We compare its performance against other heuristics that may or may not use the training data. In addition, we ascertain the value of storage as well as the value of installing a renewable source.

Original languageEnglish (US)
Title of host publication2014 IEEE International Conference on Smart Grid Communications, SmartGridComm 2014
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages97-102
Number of pages6
ISBN (Electronic)9781479949342
DOIs
StatePublished - Jan 12 2015
Externally publishedYes
Event2014 IEEE International Conference on Smart Grid Communications, SmartGridComm 2014 - Venice, Italy
Duration: Nov 3 2014Nov 6 2014

Publication series

Name2014 IEEE International Conference on Smart Grid Communications, SmartGridComm 2014

Conference

Conference2014 IEEE International Conference on Smart Grid Communications, SmartGridComm 2014
Country/TerritoryItaly
CityVenice
Period11/3/1411/6/14

ASJC Scopus subject areas

  • Communication
  • Computer Networks and Communications
  • Computer Science Applications

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