Electricity Cost Minimization for a Residential Smart Grid with Distributed Generation and Bidirectional Power Transactions

Provided by: Cornell University
Topic: Networking
Format: PDF
In this paper, the authors consider the electricity cost minimization problem in a residential network where each community is equipped with a distributed power generation source and every household in the community has a set of essential and shiftable power demands. They allow bi-directional power transactions and assume a two-tier pricing model for the buying and selling of electricity from the grid. In this situation, in order to reduce the cost of electricity they are required to make, scheduling decisions for the shiftable demands, the decisions on the amount of energy purchased from the gird by the users, the decisions on the amount of energy sold to the grid by the users.

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