Electricity consumption scheduling with energy storage, home-based renewable energy production and a customized dynamic pricing scheme

Abstract

In this paper we propose a scheduling model for electrical appliances in a dynamic pricing environment. Initially we have given a vector of price points for the next twenty four hours. We have developed an optimization model that minimizes cost to customer subject to operating time spans provided by the customer as per their requirements. The model is further modified to derive prices based on the consumption of electricity at the concerned time slot. We have also studied the effects of including energy storage and renewable energy generation at the consumer level. In this case we propose a linear price function that helps in automatically generating a price value for a time slot.