Overview of Demand-Response Services: A Review

Abstract

It is essential for the electricity sector to analyze and determine the distribution capacity throughput and apply new methods aimed at increasing the capacity of the transmission system. Consequently, the transition to modern electricity networks is two-sided, i.e., involving technological and social modifications. The demand response (DR) redistributes consumption away from peak times when grid load and costs are the highest. It incentivizes customers to use electricity when supply is high and inexpensive due to various market mechanisms. The present DR policy proposals stress the importance of fostering behavioral change through competitive pricing and customer participation in reducing carbon emissions and implementing smart energy solutions (including monitoring tools, such as smart meters and applications). The internet of things (IoT) has been applied to ensure adaptive monitoring of energy consumption and cost-effective and adequate demand-side management (DSM). The article is based on the research of the most recent sources of DR implementation methods applied at the power distribution level. It explains the main concepts, classifications, and entities implementing DSM programs, and suggests new visions and prospects for DSM and DR. Moreover, it discusses the application of blockchain technology potential for the internet of energy.

Toward a Practical Digital Twin Platform Tailored to the Requirements of Industrial Energy Systems

“…For example, the increasing maturity of machine learning approaches enables applications to improve the accuracy of demand, generation, and price forecasting [40]. Various other solutions have been proposed, such as intelligent energy management [42], demand response [43], operational optimization [44] and design optimization [45], fault prediction [46] as well as preventive and predictive maintenance for energy efficiency [47] and to extend the lifespan of machinery [48]. In the area of battery management, IoT and data science technologies enable numerous solutions to optimize battery manufacturing, operation and re-utilization [49].…”

Experiences and Lessons Learned From DR Resources Participating in the US and UK Capacity Markets: Mechanisms, Status, Dilemmas and Recommendations

“…In 2016, the global power DR capacity was 39 GW, of which North America accounted for more than half of the total DR capacity, accounting for 28 GW. According to the prediction of market research firm Navigant, the global power DR capacity will reach 144 GW by 2025 [2] . According to Bloomberg New Energy Finance, the global power DR capacity will more than triple to 177 GW by 2030.…”

Smart Grid, Demand Response and Optimization: A Critical Review of Computational Methods

“…However, users are notified prior to the change. As being part of this program, users will receive compensation [50,57]. In addition to this, emergency program is defined to deal with the system during any unforeseen event.…”

“…These users face fixed electricity price rate under normal conditions. However, as the market price goes up, these users receive good incentives [50]. To avoid the fixed electricity price, real-time electricity pricing program is also an option for the consumers related to industry and commercial projects.…”

“…Time-of-use pricing program comprises of the basic production costs and is voluntary. This rate inspires decreased consumption during peak hours [50]. To provide dynamic pricing to users, the critical peak pricing program is introduced.…”