Efficient Algorithms for Renewable Energy Allocation to Delay Tolerant Consumers

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Executive Summary

The authors investigate the problem of allocating energy from renewable sources to flexible consumers in electricity markets. They assume there is a renewable energy supplier that provides energy according to a time-varying (and possibly unpredictable) supply process. The plant must serve consumers within a specified delay window, and incurs a cost of drawing energy from other (possibly non-renewable) sources if its own supply is not sufficient to meet the deadlines. They formulate two stochastic optimization problems: The first seeks to minimize the time average cost of using the other sources (and hence strives for the most efficient utilization of the renewable source).

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