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Electricity Consumption Scheduling with Energy Storage, Home-based Renewable Energy Production and A Customized Dynamic Pricing Scheme

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  • Mitra, Krishnendranath
  • Dutta, Goutam

Abstract

In this paper we propose a scheduling model for electrical appliances in a dynamic pricing environment. Initially we have given a vector of price points for the next twenty four hours. We have developed an optimization model that minimizes cost to customer subject to operating time spans provided by the customer as per their requirements. The model is further modified to derive prices based on the consumption of electricity at the concerned time slot. We have also studied the effects of including energy storage and renewable energy generation at the consumer level. In this case we propose a linear price function that helps in automatically generating a price value for a time slot.

Suggested Citation

  • Mitra, Krishnendranath & Dutta, Goutam, 2016. "Electricity Consumption Scheduling with Energy Storage, Home-based Renewable Energy Production and A Customized Dynamic Pricing Scheme," IIMA Working Papers WP2016-11-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    • Handle: RePEc:iim:iimawp:14553
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    References listed on IDEAS

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    1. Wang, Chengshan & Zhou, Yue & Wang, Jidong & Peng, Peiyuan, 2013. "A novel Traversal-and-Pruning algorithm for household load scheduling," Applied Energy, Elsevier, vol. 102(C), pages 1430-1438.
    2. Dlamini, Ndumiso G. & Cromieres, Fabien, 2012. "Implementing peak load reduction algorithms for household electrical appliances," Energy Policy, Elsevier, vol. 44(C), pages 280-290.
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    Cited by:

    1. Nadeem Javaid & Adnan Ahmed & Sohail Iqbal & Mahmood Ashraf, 2018. "Day Ahead Real Time Pricing and Critical Peak Pricing Based Power Scheduling for Smart Homes with Different Duty Cycles," Energies, MDPI, vol. 11(6), pages 1-28, June.

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