A Real-Time Demand-Response Algorithm for Smart Grids: A Stackelberg Game Approach
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- 31 March 2015
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Smart Grid
- Vol. 7 (2), 1
- https://doi.org/10.1109/tsg.2015.2413813
Abstract
This paper proposes a real-time price (RTP)-based demand-response (DR) algorithm for achieving optimal load control of devices in a facility by forming a virtual electricity-trading process, where the energy management center of the facility is the virtual retailer (leader) offering virtual retail prices, from which devices (followers) are supposed to purchase energy. A one-leader, N -follower Stackelberg game is formulated to capture the interactions between them, and optimization problems are formed for each player to help in selecting the optimal strategy. The existence of a unique Stackelberg equilibrium that provides optimal energy demands for each device was demonstrated. The simulation analysis showed that the Stackelberg game-based DR algorithm is effective for achieving the optimal load control of devices in response to RTP changes with a trivial computation burden.Keywords
Funding Information
- Gyeonggi Regional Research Center GRRC program of Gyeonggi Province (GRRC Hanyang 2014-B01)
- National Research Foundation of Korea NRF (NRF-2012K1A3A1A20031289)
- BK21 Plus Program Future-oriented Innovative Brain Raising Type funded by the National Research Foundation of Korea NRF (22A20130012806)
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