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Title: Two-stage optimal operation of smart homes participating in competitive electricity markets
Authors: Silva, Pedro
Osório, Gerardo J.
Gough, Matthew
Santos, Sérgio F.
Home-Ortiz, Juan M
Shafie-khah, Miadreza
Catalão, João P.S.
Keywords: Energy Management System
Energy storage system
Demand response
Internet of Things
Smart home
Smart grid
Stochastic programming
Issue Date: 3-Nov-2021
Publisher: IEEE
Citation: Silva, P., Osório, G. J., Gough, M., Santos, S. F., Home-Ortiz, J. M., Shafie-khah, M., & Catalão, J. P. S. (2021). Two-stage optimal operation of smart homes participating in competitive electricity markets. In [Proceedings of the] 2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe), Bari, Italy, 07-10 September 2021, (pp. 1-6). IEEE. Repositório Institucional UPT.
Abstract: End users have become active participants in local electricity market transactions because of the growth of the smart grid concept and energy storage systems (ESS). This participation is optimized in this article using a stochastic two-stage model considering the day-ahead and real-time electricity market data. This model optimally schedules the operation of a Smart Home (SH) to meet its energy demand. In addition, the uncertainty of wind and photovoltaic (PV) generation is considered along with different appliances. In this paper, the participation of an EV (electric vehicle), together with the battery energy storage systems, which allow for the increase in bidirectional energy transactions are considered. Demand Response (DR) programs are also incorporated which consider market prices in real-time and impact the scheduling process. A comparative analysis of the performance of a smart home participating in the electricity market is carried out to determine an optimal DR schedule for the smart homeowner. The results show that the SH’s participation in the real-time pricing, scheme not only reduces the operating costs but also leads to better than expected profits. Moreover, total, day-ahead, and real-time expected profits are better in comparison with existing literature. The objective of this paper is to analyze the SH performance within the electrical market context so as to increase the system’s flexibility whilst optimizing DR schedules that can mitigate the variability of end-users generation and load demand.
Appears in Collections:REMIT - Publicações em Livros de Atas Internacionais / Papers in International Proceedings

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