Effects of price-responsive residential demand on retail and wholesale power market operations

dc.contributor.author Thomas, Auswin
dc.contributor.author Cai, Chengrui
dc.contributor.author Aliprantis, Dionysios
dc.contributor.author Tesfatsion, Leigh
dc.contributor.author Tesfatsion, Leigh
dc.contributor.department Economics
dc.contributor.department Electrical and Computer Engineering
dc.date 2018-02-18T02:56:05.000
dc.date.accessioned 2020-06-30T02:04:06Z
dc.date.available 2020-06-30T02:04:06Z
dc.date.copyright Sun Jan 01 00:00:00 UTC 2012
dc.date.embargo 2016-12-19
dc.date.issued 2012-01-01
dc.description.abstract <p>This paper describes a computational platform for studying the effects of price-responsive residential demand for air-conditioning (A/C) on integrated retail and wholesale power market operations. The physical operations of the A/C system are represented by means of the physics-based equivalent thermal parameter model. Residential A/C energy usage levels are determined by means of a stochastic dynamic-programming optimization in which the daily comfort attained by the resident is optimally traded off against his daily energy costs, conditional on retail energy prices, environmental conditions, and A/C operational constraints. An example is provided to illustrate the dynamic feedback loop connecting residential A/C load, the energy prices determined at wholesale conditional on A/C load, and the retail energy prices offered to residential A/C consumers by wholesale energy buyers.</p>
dc.description.comments <p>© 2012 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. DOI: <a href="http://dx.doi.org/10.1109/PESGM.2012.6345575" target="_blank">10.1109/PESGM.2012.6345575</a></p>
dc.format.mimetype application/pdf
dc.identifier archive/lib.dr.iastate.edu/econ_las_conf/49/
dc.identifier.articleid 1048
dc.identifier.contextkey 9486615
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath econ_las_conf/49
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/21211
dc.language.iso en
dc.source.bitstream archive/lib.dr.iastate.edu/econ_las_conf/49/2012_Tesfatsion_EffectsPrice.pdf|||Sat Jan 15 00:29:36 UTC 2022
dc.source.uri 10.1109/PESGM.2012.6345575
dc.subject.disciplines Growth and Development
dc.subject.disciplines Income Distribution
dc.subject.disciplines Power and Energy
dc.title Effects of price-responsive residential demand on retail and wholesale power market operations
dc.type article
dc.type.genre conference
dspace.entity.type Publication
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relation.isOrgUnitOfPublication a75a044c-d11e-44cd-af4f-dab1d83339ff
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