Economic Benefits of Energy Storage and Price-aware Demand Response for Future Smart Cities

Abstract

As new goals were set in terms of reliability and sustainability in urban power grids, demand response (DR) programs have gained remarkable attention for their benefits offered to both grid and customers. The scope of this work is to analyze the impact of different types of demand side management (DSM) programs in Smart City context, considering the presence of local renewable energy sources (RESs) and storage devices. In this paper, a scheduling optimization scheme for an urban distribution network is presented, aiming to reduce the total operation cost. In this regard, a dual-objective model has been developed, that influences the balance between the global operational cost and the total load curtailment provided by the DR programs, while satisfying the technological constraints of the system.