Foresighted Demand Side Management
Feb 26, 2014
from 12:00 PM to 01:00 PM
|Where||Engr. IV Bldg., Tesla Room 53-125|
|Contact Name||Yuanzhang Xiao|
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Department Research Forum
Hosted by: Professor Greg Pottie
Advisor: Prof. Mihaela van der Schaar
Power systems are undergoing drastic changes due to the penetration of renewable energy. One way to cope with the high fluctuation and uncertainty brought by renewable energy is to adopt energy storage in demand side management (DSM). Specifically, the adoption of energy storage enables the decision makers (the independent system operator (ISO) who procures energy and aggregators who purchase energy) to make foresighted decisions, instead of myopically minimizing the short-term system cost on a hourly or daily basis.
In this talk, we present a design framework for the ISO and the aggregators to make optimal foresighted energy procurement and purchase decisions, such that the long-term system cost is minimized. We overcome two difficulties in optimal foresighted decision making: the decentralized information possessed by different decision makers, and the complicated coupling among them. Simulation results show that the proposed foresighted DSM achieves significant reduction in the total cost, compared to the optimal myopic DSM (up to 60% reduction), and the foresighted DSM based on the Lyapunov optimization framework (up to 30% reduction). The design framework is general and can be applied to other multi-agent sequential decision making problems such as wireless video transmission.
Yuanzhang Xiao is a Ph.D. student in Department of Electrical Engineering working with Prof. Mihaela van der Schaar since 2009. Prior to this, he obtained B.S. and M.S. from Tsinghua University, China, in 2006 and 2009, respectively. His research interests are resource allocation and exchange with imperfect monitoring/information, stochastic games, optimization, with applications to smart grids, crowdsourcing, social networks, wireless communications.