OPTIMAL SCHEDULING OF RESIDENTIAL DEMAND RESPONSE USING DYNAMIC PROGRAMMING

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dc.contributor.advisorGabriel, Steven Aen_US
dc.contributor.authorMoglen, Rachel Leeen_US
dc.contributor.departmentMechanical Engineeringen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2019-06-20T05:39:46Z
dc.date.available2019-06-20T05:39:46Z
dc.date.issued2019en_US
dc.description.abstractElectricity price volatility in the Electricity Reliability Council of Texas (ERCOT) poses significant financial threat to many players in the electricity market, though most of the financial burden falls on the retail electric providers (REPs). REPs are contractually obligated to purchase and provide all electricity that the end-user wishes to consume, even when the purchase of this electricity brings them financial losses. Electricity prices in ERCOT can increase from typical ranges ($30/MWh) to $3,000/MWh in as little as 15 minutes, causing REPs to seek mitigation techniques to avoid paying price spike prices for electricity. We explore two techniques for REPs to schedule mitigation techniques: a price prediction-based heuristic approach, as well as an optimal scheduling algorithm using dynamic programming (DP). We aim to optimally schedule these mitigation techniques which shift load from high price periods to times of lower prices, called demand response (DR). To achieve this load shifting, REPs remotely manipulate internet-connected thermostats of residential customers, thereby controlling a fraction of residential HVAC load. We found that the price prediction approach was highly unreliable, even for predicting prices as near as 5 minutes out. We therefore chose to rely on the DP as the primary scheduling model. By applying the DP deterministically to historical electricity price and weather data, the load-shifting technique is shown to potentially improve REP profit margins by 10% to 25% per customer annually. Most of these savings come from a few crucial events, highlighting the usefulness of the DP and the importance of accuracy in the timing of DR events. Due to the uncertainty in electricity prices, we apply a multi-objective approach considering the REP’s conflicting objectives: maximizing savings and minimizing financial risk. Results from this multi-objective formulation point to shorter duration DR events in the evening being the least risky, with additional savings possible through riskier short midday events. To ensure that REPs could apply our DP formulation for use in near real-time decision-making applications, the computation speed was verified to be under one second for 24 stages (i.e., 1-hour intervals for one day.)en_US
dc.identifierhttps://doi.org/10.13016/ldoz-wwby
dc.identifier.urihttp://hdl.handle.net/1903/22026
dc.language.isoenen_US
dc.subject.pqcontrolledEnergyen_US
dc.subject.pqcontrolledOperations researchen_US
dc.subject.pquncontrolledDemand Responseen_US
dc.subject.pquncontrolledDemand Side Managementen_US
dc.subject.pquncontrolledDynamic Programmingen_US
dc.subject.pquncontrolledMulti-Objective Optimizationen_US
dc.subject.pquncontrolledResidential Electricityen_US
dc.titleOPTIMAL SCHEDULING OF RESIDENTIAL DEMAND RESPONSE USING DYNAMIC PROGRAMMINGen_US
dc.typeThesisen_US

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