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Methodology for deploying cost-optimum price-based demand side management for residential prosumers

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  • Venizelou, Venizelos
  • Makrides, George
  • Efthymiou, Venizelos
  • Georghiou, George E.

Abstract

Electricity networks are experiencing increasing congestion and reliability issues as current generation and transmission infrastructures endeavour to match the supply with demand. The integration of intermittent renewable energy resources such as photovoltaic (PV) systems has led to a large variation in energy production and increased supply uncertainty in power systems. In this context, demand-side management (DSM) schemes can be used to motivate prosumers to refine their energy behaviours by offering them various incentives. This study presents a universally-applied methodology that will promote the deployment of effective price-based DSM for residential prosumers. The proposed methodology can be applied on both prosumers and consumers since the utilization of the net-load profile was found to reduce the percentage of unintended revenues by 15%. Additionally, the effectiveness of the methodology was validated through a pilot-network of 300 residential prosumers with installed rooftop PV systems, and resulted in seasonally dependent peak consumption reduction in the range of 1.03% and 3.19% and a reduction of the overall consumption by approximately 2%. Finally, the conducted cost-benefit analysis demonstrated an overall net-benefit of €4.62mln, over a 15-year period, when considering assumptions that are linked to the costs and benefits of a nationwide deployment of the proposed DSM scheme.

Suggested Citation

  • Venizelou, Venizelos & Makrides, George & Efthymiou, Venizelos & Georghiou, George E., 2020. "Methodology for deploying cost-optimum price-based demand side management for residential prosumers," Renewable Energy, Elsevier, vol. 153(C), pages 228-240.
    • Handle: RePEc:eee:renene:v:153:y:2020:i:c:p:228-240
    DOI: 10.1016/j.renene.2020.02.025
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    5. Gupta, Rajat & Morey, Johanna, 2022. "Empirical evaluation of demand side response trials in UK dwellings with smart low carbon technologies," Renewable Energy, Elsevier, vol. 199(C), pages 993-1004.
    6. Ovidiu Ivanov & Bogdan-Constantin Neagu & Gheorghe Grigoras & Florina Scarlatache & Mihai Gavrilas, 2021. "A Metaheuristic Algorithm for Flexible Energy Storage Management in Residential Electricity Distribution Grids," Mathematics, MDPI, vol. 9(19), pages 1-17, September.
    7. Carlos Cruz & Esther Palomar & Ignacio Bravo & Alfredo Gardel, 2020. "Cooperative Demand Response Framework for a Smart Community Targeting Renewables: Testbed Implementation and Performance Evaluation," Energies, MDPI, vol. 13(11), pages 1-20, June.
    8. Sana Iqbal & Mohammad Sarfraz & Mohammad Ayyub & Mohd Tariq & Ripon K. Chakrabortty & Michael J. Ryan & Basem Alamri, 2021. "A Comprehensive Review on Residential Demand Side Management Strategies in Smart Grid Environment," Sustainability, MDPI, vol. 13(13), pages 1, June.
    9. Jaszczur, Marek & Hassan, Qusay & Abdulateef, Ammar M. & Abdulateef, Jasim, 2021. "Assessing the temporal load resolution effect on the photovoltaic energy flows and self-consumption," Renewable Energy, Elsevier, vol. 169(C), pages 1077-1090.

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