How to implement real-time pricing in China? A solution based on power credit mechanism

Mei Sun, Jian Ji and Benjamin Chris Ampimah

Applied Energy, 2018, vol. 231, issue C, 1007-1018

Abstract: In view of real-time pricing implementation difficulties and certain deficiencies of the time-of-use price in China, a novel virtual real-time electricity pricing scheme is proposed based on power credit incentive program in this paper, which can help to achieve better results for peak load shifting than the conventional time-of-use price-based scheme. In addition, it can also work as virtual real-time pricing mechanism. The aim of this study from the perspective of load scheduling of residential appliance device, focuses on the optimization of cost and willingness to change of the user, and further examining the feasibility and effectiveness of electricity pricing mechanism in detail. Finally, the application prospect of the electricity pricing mechanism in demand response is evaluated and the performance of the model in our study established with illustration from our simulation results.

Keywords: Demand response; Power credit; Virtual real-time pricing; Residential appliance load scheduling (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306261918313977
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:231:y:2018:i:c:p:1007-1018

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2018.09.086

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().