Demand-Side Energy Management in the Smart Grid: Games and Prospects

To mitigate the technical challenges faced by the next-generation smart power grid, in this thesis, novel frameworks are developed for optimizing energy management and trading between power companies and grid consumers, who own renewable energy generators and storage units. The proposed frameworks explicitly account for the effect on demand-side energy management of various consumer-centric grid factors such as the stochastic renewable energy forecast, as well as the varying future valuation of stored energy. In addition, a novel approach is proposed to enhance the resilience of consumer-centric energy trading scenarios by analyzing how a power company can encourage its consumers to store energy, in order to supply the grid’s critical loads, in case of an emergency. The developed energy management mechanisms advance novel analytical tools from game theory, to capture the coupled actions and objectives of the grid actors and from the framework of prospect theory (PT), to capture the irrational behavior of consumers when faced with decision uncertainties. The studied PT and game-based solutions, obtained through analytical and algorithmic characterization, provide grid designers with key insights on the main drivers of each actor’s energy management decision. The ensuing results primarily characterize the difference in trading decisions between rational and irrational consumers, and its impact on energy management. The outcomes of this thesis will therefore allow power companies to design consumer-centric energy management programs that support the sustainable and resilient development of the smart grid by continuously matching supply and demand, and providing emergency energy reserves for critical infrastructure.

Name thesis:degree_name

Master of Science

Level thesis:degree_level

masters

Discipline thesis:degree_discipline

Electrical Engineering

Department dc:contributor.department

Electrical and Computer Engineering

Grantor dc:publisher

Virginia Tech

Year dc:date.issued

2017

Author dc:creator

• El Rahi, Georges

Chair dc:contributor.committeechair

• Saad, Walid

Committee members dc:contributor.committeemember

• Kekatos, Vasileios
• Dhillon, Harpreet Singh

• Smart Grid
• Demand-Side Management
• Microgrid
• Prosumers
• Game Theory
• Prospect Theory.

Statement dc:rights

• In Copyright

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Dc Identifier Other

vt_gsexam:10916

OAI identifier oai:identifier

oai:vtechworks.lib.vt.edu:10919/78266