A new interactive real-time pricing mechanism of demand response based on an evaluation model

Ziyang Wang, Mei Sun, Cuixia Gao, Xin Wang and Benjamin Chris Ampimah

Applied Energy, 2021, vol. 295, issue C, No S0306261921005109

Abstract: Electricity price mechanism is an important means to implement demand response, especially in the home energy management system. A reasonable pricing mechanism therefore can stimulate the enthusiasm of residential users and as well balance power supply and demand effectively. From the perspective of residential users, this paper establishes a residential user evaluation system based on an evaluation model by selecting indicators related to user characteristics and electricity consumption data, and as well proposes a new interactive real-time pricing mechanism. A constrained multi-objective optimization model is then constructed, and the optimal operation scheme of each appliance is optimized. Numerical simulation and case studies show that, the optimization model can accurately schedule operations of household appliances. Besides, under the action of interactive real-time pricing, the electricity load fluctuation rate and electricity cost are significantly reduced compared with other comparative cases. The results confirm that, interactive real-time pricing aside reducing the cost of energy for users, can also play an active role in reducing peak loads and increase off-peak load, thereby stabilizing the load fluctuation.

Keywords: Interactive real-time pricing; Demand response; Home energy management system; Load scheduling; Evaluation model (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (11)

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DOI: 10.1016/j.apenergy.2021.117052

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