A multi-objective risk-based robust optimization approach to energy management in smart residential buildings under combined demand and supply uncertainty

Hêriş Golpîra and Syed Abdul Rehman Khan

Energy, 2019, vol. 170, issue C, 1113-1129

Abstract: This paper formulates a risk-based robust decision making framework for a Smart Building (SB) energy management system under demand and supply uncertainty. The last aim of the resulting multi-objective mixed integer linear programming is to minimize the total day-ahead cost of the system, in which the objective functions are the total cost of heat and power co-generation, and the total emissions cost. In this way, the first trade-off is made between economy and environmental impacts, while the second trade-off is occurred between solution robustness and model robustness. The results from a numerical example demonstrate the robustness and flexibility of the overall framework in dealing with Decision Makers (DMs) risk aversion level. In average, a more conservative decision maker faces a 75% increase in total cost, a 90% increase in electricity generation cost, and an increase of 8% in emissions cost compared with a more risk-seeker DM. Compared with the conventional power generation system, using the proposed Microgrid-based system brings about 92%, 93%, and 85% savings in total cost, cost of power-supply, and total emissions cost, respectively.

Keywords: Smart building; Microgrid; Mixed integer linear programming; Robust optimization; Conditional value at risk (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:170:y:2019:i:c:p:1113-1129

DOI: 10.1016/j.energy.2018.12.185

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