Impact of Social Welfare Metrics on Energy Allocation in Multi-Objective Optimization

Anders Clausen, Aisha Umair, Yves Demazeau and Bo Nørregaard Jørgensen
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Anders Clausen: Center for Energy Informatics, University of Southern Denmark, Campusvej 55, 5230 Odense M, Denmark
Aisha Umair: Center for Energy Informatics, University of Southern Denmark, Campusvej 55, 5230 Odense M, Denmark
Yves Demazeau: Laboratoire d’Informatique de Grenoble, CNRS, Batiment IMAG—700 avenue Centrale, Domaine Universitaire—CS 40700, F-38058 Grenoble cx 9, France
Bo Nørregaard Jørgensen: Center for Energy Informatics, University of Southern Denmark, Campusvej 55, 5230 Odense M, Denmark

Energies, 2020, vol. 13, issue 11, 1-19

Abstract: Resource allocation problems are at the core of the smart grid where energy supply and demand must match. Multi-objective optimization can be applied in such cases to find the optimal allocation of energy resources among consumers considering energy domain factors such as variable and intermittent production, market prices, or demand response events. In this regard, this paper considers consumer energy demand and system-wide energy constraints to be individual objectives and optimization variables to be the allocation of energy over time to each of the consumers. This paper considers a case in which multi-objective optimization is used to generate Pareto sets of solutions containing possible allocations for multiple energy intensive consumers constituted by commercial greenhouse growers. We consider the problem of selecting a final solution from these Pareto sets, one of maximizing the social welfare between objectives. Social welfare is a set of metrics often applied to multi-agent systems to evaluate the overall system performance. We introduce and apply social welfare ordering using different social welfare metrics to select solutions from these sets to investigate the impact of the type of social welfare metric on the optimization outcome. The results of our experiments indicate how different social welfare metrics affect the optimization outcome and how that translates to general resource allocation strategies.

Keywords: multi-objective optimization; social welfare metrics; energy allocation (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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