An Economic Model for Distributed Energy Prosumers

Sun, Qin; Beach, Aaron; Cotterell, Michael E.; Wu, Zhengkai; Grijalva, Santiago

doi:10.1109/hicss.2013.81

Cited by 18 publications

(16 citation statements)

References 8 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Several prosumer models are described in literature [5][6][7][8][9][10][11][12]. There are models based in intelligent systems [5,7,8], in stochastic correlation [6], in predictive control [10], in graphs [11] in multi-objective methodology [12] and in the aggregation of consumer and producer models [9]. In this paper the analyzed prosumer is a domestic consumer, which is simultaneously a solar photovoltaic energy producer.…”

Section: Prosumer Modelingmentioning

confidence: 99%

“…Because distributed generation has intrinsically intermittent characteristics, the prosumer´s production forecast and consumption forecast is included in economic dispatch problem solution. The prosumer model (1-7) is based in [9] and considers energy buying prices given by energy market, obtained from OMEL´s data base [13]. In addition constant selling energy price is considered.…”

Section: Prosumer Modelingmentioning

confidence: 99%

“…In (7),   t  is the consumption preference factor vector given by (8)(9), which depends on consumption time and is settled accordingly to the Portuguese winter and summer hourly cycles definition [14].…”

Section: Prosumer Modelingmentioning

confidence: 99%

See 2 more Smart Citations

Computational Models Development and Demand Response Application for Smart Grids

Pereira

Figueiredo

Quadrado

2016

IFIP Advances in Information and Communication Technology

View full text Add to dashboard Cite

Abstract. This paper focuses on computational models development and its applications on demand response, within smart grid scope. A prosumer model is presented and the corresponding economic dispatch problem solution is analyzed. The prosumer solar radiation production and energy consumption are forecasted by artificial neural networks. The existing demand response models are studied and a computational tool based on fuzzy clustering algorithm is developed and the results discussed. Consumer energy management applications within the InovGrid pilot project are presented. Computation systems are developed for the acquisition, monitoring, control and supervision of consumption data provided by smart meters, allowing the incorporation of consumer actions on their electrical energy management. An energy management system with integration of smart meters for energy consumers in a smart grid is developed.

show abstract

Section: Prosumer Modelingmentioning

confidence: 99%

Section: Prosumer Modelingmentioning

confidence: 99%

See 1 more Smart Citation

Computational Models Development and Demand Response Application for Smart Grids

Pereira

Figueiredo

Quadrado

2016

IFIP Advances in Information and Communication Technology

View full text Add to dashboard Cite

show abstract

“…Despite technological advances in small-scale hybrid renewable energy systems, there are very few studies that model the economic decision-making of a household which generates energy from multiple sources. Combining the concepts of energy production and consumption at the residential level, studies in energy economics refer to a household with an energy-generating capacity as a "prosumer" (see Sun et al [1], MacGill and Smith [2], Green and Staffell [3], and Schill et al [4]). There are several benefit-cost analyses that examine a prosumer's decision to adopt a single renewable source (examples include Zarte and Pechmann [5], Jung and Tyner [6], and Swift [7]).…”

Section: Introductionmentioning

confidence: 99%

Notes on the Economics of Residential Hybrid Energy System

et al. 2019

View full text Add to dashboard Cite

Despite advances in small-scale hybrid renewable energy technologies, there are limited economic frameworks that model the different decisions made by a residential hybrid system owner. We present a comprehensive review of studies that examine the techno-economic feasibility of small-scale hybrid energy systems, and we find that the most common approach is to compare the annualized life-time costs to the expected energy output and choose the system with the lowest cost per output. While practical, this type of benefit–cost analysis misses out on other production and consumption decisions that are simultaneously made when adopting a hybrid energy system. In this paper, we propose a broader and more robust theoretical framework—based on production and utility theory—to illustrate how the production of renewable energy from multiple sources affects energy efficiency, energy services, and energy consumption choices in the residential sector. Finally, we discuss how the model can be applied to guide a hybrid-prosumer’s decision-making in the US residential sector. Examining hybrid renewable energy systems within a solid economic framework makes the study of hybrid energy more accessible to economists, facilitating interdisciplinary collaborations.

show abstract

“…Sun et al [16] classify various prosumer operational modes and propose different optimization strategies. A comparison with pure consumer and pure producer model is also presented.…”

Section: Related Workmentioning

confidence: 99%

A Novel Prosumer-Based Energy Sharing and Management (PESM) Approach for Cooperative Demand Side Management (DSM) in Smart Grid

et al. 2016

View full text Add to dashboard Cite

Increasing population and modern lifestyle have raised energy demands globally. Demand Side Management (DSM) is one important tool used to manage energy demands. It employs an advanced power infrastructure along with bi-directional information flow among utilities and users in order to achieve a balanced load curve and minimize demand-supply mismatch. Traditionally, this involves shifting the electricity demand from peak hours to other times of the day in an optimized manner. Multiple users equipped with renewable resources work in coordination with each other in order to achieve mutually beneficial energy management. This, in turn, has generated the concept of cooperative DSM. Such users, called prosumers, consume and produce energy using renewable resources (solar, wind etc.). Prosumers with surplus energy sell to the grid as well as to other consumers. In this paper, a novel Prosumer-based Energy Sharing and Management (PESM) scheme for cooperative DSM has been proposed. A simulation model has been developed for testing the proposed method. Different variations of the proposed methodology have been experimented with different criteria. The results show that the proposed energy sharing scheme achieves DSM purposes in a useful manner.

show abstract

An Economic Model for Distributed Energy Prosumers

Cited by 18 publications

References 8 publications

Computational Models Development and Demand Response Application for Smart Grids

Computational Models Development and Demand Response Application for Smart Grids

Notes on the Economics of Residential Hybrid Energy System

A Novel Prosumer-Based Energy Sharing and Management (PESM) Approach for Cooperative Demand Side Management (DSM) in Smart Grid

Contact Info

Product

Resources

About