Optimum Stochastic Allocation for Demand Response for Power Markets in Microgrids

Edwin Garcia (), Alexander Águila, Leony Ortiz and Milton Ruiz
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Edwin Garcia: Smart Grid Research Group—GIREI (Spanish Acronym—Grupo de Investigación en Redes Eléctricas Inteligentes), Salesian Polytechnic University, Quito EC170702, Ecuador
Alexander Águila: Smart Grid Research Group—GIREI (Spanish Acronym—Grupo de Investigación en Redes Eléctricas Inteligentes), Salesian Polytechnic University, Quito EC170702, Ecuador
Leony Ortiz: Smart Grid Research Group—GIREI (Spanish Acronym—Grupo de Investigación en Redes Eléctricas Inteligentes), Salesian Polytechnic University, Quito EC170702, Ecuador
Milton Ruiz: Smart Grid Research Group—GIREI (Spanish Acronym—Grupo de Investigación en Redes Eléctricas Inteligentes), Salesian Polytechnic University, Quito EC170702, Ecuador

Energies, 2024, vol. 17, issue 5, 1-16

Abstract: This research incorporates an electricity market model based on a stochastic allocation of distributed resources and the analysis of an optimal demand response for a smart microgrid. This research develops a methodology that allows the application and comparison of various demand-response mechanisms and the analysis of the differences between them and the case of no-demand response, emphasizing economics, environmental care, demand curves, and other factors. By enabling more active participation by residential users of the smart microgrid, these demand-response methods help to flatten the demand curve and support the goals set by the electricity market model. Both conventional and non-conventional generators compete in the electricity market, with renewable energy sources preferred to encourage green generation. Conventional generators are required to supply electricity gradually, starting with the lowest pollution level. In addition, conventional generators are compensated for dispatch, system reliability, and availability. In addition, random variables are used in this study to predict initial load, solar radiation analysis, and biomass input before resources are optimized to meet demand.

Keywords: demand response; smart grid; electricity market; random variable; distributed generation (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: 2024
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