ABSTRACT
This chapter proposes a real-time price-based demand response (DR) management model for residential appliances, which can assist residential consumers in automatically managing their appliances for optimal energy efficiency and economics. It describes the modeling of price-based DR characteristics of residential appliances via different task categories and the realtime DR management for residential appliances via scenario-based stochastic optimization and robust optimization approaches. Owing to the potential benefits real-time electricity pricing could bring to the demand side, consumers can optimally adjust their energy consumption by participating in the DR program to minimize their electricity bills. Scenario-based stochastic optimization and robust optimization approaches are developed to explore optimal real-time DR management decisions with respect to time-varying electricity price uncertainties. The similarity indices are incorporated into the online stochastic residential appliance DR energy management model, to balance the trade-off between the electricity bill cost and privacy protection.
