The values of market-based demand response on improving power system reliability under extreme circumstances
TL;DR: In this paper, a case study on the performance of DR in PJM Interconnections during the 2014 North American Polar Vortex is provided to highlight the significant contributions to improving system reliability and maintaining grid stability from DR programs.
About: This article is published in Applied Energy.The article was published on 2017-05-01. It has received 182 citations till now. The article focuses on the topics: Electricity market & Demand response.
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TL;DR: Simulation results show that the proposed forecasting method with time correlation modification (TCM) is more accurate than the individual LSTM-RNN model, and the performance of the forecasting model can be further improved for those days with accurate daily pattern predictions under the proposed PDPP framework.
304 citations
TL;DR: Among all of the investigated deep learning techniques, the gated 24-h CNN model, performed in a direct multi-step manner, proves itself to have the best performance, improving the forecasting accuracy by 22.6% compared to that of the seasonal ARIMAX.
288 citations
Cites methods from "The values of market-based demand r..."
...In the smart grid paradigm, a number of innovative techniques have been introduced targeting improvements in both the power grid and building energy efficiency, including demand response (DR) [2] and demand-side management [3,4]....
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TL;DR: A real-time price (RTP)-based automatic demand response (ADR) strategy for PV-assisted electric vehicle (EV) Charging Station (PVCS) without vehicle to grid is proposed, to capture the advantages of both global and real- time optimization.
Abstract: A real-time price (RTP)-based automatic demand response (ADR) strategy for PV-assisted electric vehicle (EV) Charging Station (PVCS) without vehicle to grid is proposed. The charging process is modeled as a dynamic linear program instead of the normal day-ahead and real-time regulation strategy, to capture the advantages of both global and real-time optimization. Different from conventional price forecasting algorithms, a dynamic price vector formation model is proposed based on a clustering algorithm to form an RTP vector for a particular day. A dynamic feasible energy demand region (DFEDR) model considering grid voltage profiles is designed to calculate the lower and upper bounds. A deduction method is proposed to deal with the unknown information of future intervals, such as the actual stochastic arrival and departure times of EVs, which make the DFEDR model suitable for global optimization. Finally, both the comparative cases articulate the advantages of the developed methods and the validity in reducing electricity costs, mitigating peak charging demand, and improving PV self-consumption of the proposed strategy are verified through simulation scenarios.
206 citations
Cites background from "The values of market-based demand r..."
...DR is often a cost effective technique that can provide the flexibility required to time shift loads either through prices or incentive policies [12]....
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TL;DR: The simulation results illustrate that generative adversarial networks can generate new samples with high quality that capture the intrinsic features of the original data, but not to simply memorize the training data, and convolutional neural networks classification models show better classification performance than traditional machine learning models.
198 citations
Cites background from "The values of market-based demand r..."
...For example, demand response (DR) can shift electricity consumptions in DR event time to improve the flexibility of system operation [6], leverage the demand-side resources through a variety of electricity market mechanisms to balance the active power and enhance system reliability [7], participate the operation optimization of micro-grid [8], and ultra-short-term solar PV power forecasting [9]....
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TL;DR: A day-ahead multiobjective optimization model for the BEMS under time-of-use price-based demand response (DR), which integrates building integrated photovoltaic with other generations to optimize the economy and occupants’ comfort by the synergetic dispatch of source–load–storage is proposed.
Abstract: The optimized operation of a building energy management system (BEMS) is of great significance to its operation security, economy, and efficiency. This paper proposes a day-ahead multiobjective optimization model for the BEMS under time-of-use price-based demand response (DR), which integrates building integrated photovoltaic with other generations to optimize the economy and occupants’ comfort by the synergetic dispatch of source–load–storage. The occupants' comfort contains three aspects of the indoor environment: visual comfort; thermal comfort; and indoor air quality comfort. With the consideration of controllable load that could participate in DR programs, the balances among different energy styles, electric, thermal, and cooling loads are guaranteed during the optimized operation. YALMIP toolbox in MATLAB was applied to solve the optimization problem. Finally, a case study was conducted to validate the effectiveness and adaptability of the proposed model.
183 citations
Cites background from "The values of market-based demand r..."
...And as the development of demand response (DR), the demand side has to be considered to improve the system reliability [9], [10]....
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References
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24 Jun 2007
TL;DR: In this paper, an overview of demand response in electricity market is presented, where the most common indices used for demand response evaluation are highlighted and some utilities experiences with different demand response programs are presented.
Abstract: This paper presents an overview of demand response (DR) in electricity market. The definition and a classification of demand response will be presented. Different potential benefits as well as cost components of demand response will be presented. The most common indices used for demand response evaluation are highlighted. Moreover, some utilities experiences with different demand response programs will be presented.
909 citations
"The values of market-based demand r..." refers background in this paper
...Reports 41 [23, 24, 25] explore major industrial incentives for the development of DR under the smart grid paradigm and 42 summarize the evolving/existing DR programs at different independent system operators (ISOs) or regional 43 transmission operators (RTOs)....
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TL;DR: The main industry drivers of smart grid and the different facets of DER under the smart grid paradigm are explored and the existing and evolving programs at different ISOs/RTOs and the product markets they can participate in are summarized.
Abstract: Demand response (DR), distributed generation (DG), and distributed energy storage (DES) are important ingredients of the emerging smart grid paradigm. For ease of reference we refer to these resources collectively as distributed energy resources (DER). Although much of the DER emerging under smart grid are targeted at the distribution level, DER, and more specifically DR resources, are considered important elements for reliable and economic operation of the transmission system and the wholesale markets. In fact, viewed from transmission and wholesale operations, sometimes the term ?virtual power plant? is used to refer to these resources. In the context of energy and ancillary service markets facilitated by the independent system operators (ISOs)/regional transmission organizations (RTOs), the market products DER/DR can offer may include energy, ancillary services, and/or capacity, depending on the ISO/RTO market design and applicable operational standards. In this paper we first explore the main industry drivers of smart grid and the different facets of DER under the smart grid paradigm. We then concentrate on DR and summarize the existing and evolving programs at different ISOs/RTOs and the product markets they can participate in. We conclude by addressing some of the challenges and potential solutions for implementation of DR under smart grid and market paradigms.
846 citations
"The values of market-based demand r..." refers background in this paper
...Reports 41 [23, 24, 25] explore major industrial incentives for the development of DR under the smart grid paradigm and 42 summarize the evolving/existing DR programs at different independent system operators (ISOs) or regional 43 transmission operators (RTOs)....
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TL;DR: In this paper, the authors argue that increasing the short-run price elasticity of the demand for electrical energy would improve the operation of electricity markets, however, that enhancing this elasticity is not an easy task.
Abstract: This tutorial paper discusses some aspects of electricity markets from the perspective of the demand-side. It argues that increasing the short-run price elasticity of the demand for electrical energy would improve the operation of these markets. It shows, however, that enhancing this elasticity is not an easy task. The tools that consumers and retailers of electrical energy need to participate more actively and effectively in electricity markets are discussed. The paper also describes how consumers of electricity can take part in the provision of power system security.
807 citations
"The values of market-based demand r..." refers background in this paper
...Some pre38 liminary works [17, 18, 19] discuss functionalities of the demand-side management from the perspective of 39 electricity markets....
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TL;DR: This survey paper comprehensively survey and summarize the characterizations and taxonomy of state-of-the-art studies in SDN control plane scalability, and outlines the potential challenges and open problems that need to be addressed further for more scalableSDN control planes.
438 citations
TL;DR: In this article, the authors summarized the existing contribution of demand response resources in U.S. electric power markets and showed that DR resources do offer a viable, cost-effective alternative to supply-side investments.
412 citations
"The values of market-based demand r..." refers background in this paper
...Reports 41 [23, 24, 25] explore major industrial incentives for the development of DR under the smart grid paradigm and 42 summarize the evolving/existing DR programs at different independent system operators (ISOs) or regional 43 transmission operators (RTOs)....
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