Meeting Inelastic Demand in Systems With Storage and Renewable Sources

  title={Meeting Inelastic Demand in Systems With Storage and Renewable Sources},
  author={Soongeol Kwon and Yunjian Xu and N. Gautam},
  journal={IEEE Trans. Smart Grid},
  • Soongeol Kwon, Yunjian Xu, N. Gautam
  • Published 2017
  • Engineering, Computer Science
  • IEEE Trans. Smart Grid
  • We consider a system where inelastic demand for electric power is met from three sources: 1) the grid; 2) in-house renewables such as solar panels; and 3) an in-house energy storage device. In our setting, energy demand, renewable power supply, and cost for grid power are all time-varying and stochastic. Furthermore, there are limits and inefficiency associated with charging and discharging the energy storage device. We formulate the storage operation problem as a dynamic program with… CONTINUE READING
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