Charge Scheduling of an Energy Storage System under Time-of-Use Pricing and a Demand Charge

A real-coded genetic algorithm is used to schedule the charging of an energy storage system (ESS), operated in tandem with renewable power by an electricity consumer who is subject to time-of-use pricing and a demand charge. Simulations based on load and generation profiles of typical residential cu...

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Bibliographic Details
Published inTheScientificWorld Vol. 2014; no. 2014; pp. 1 - 9
Main Authors Yoon, Yourim, Kim, Yong-Hyuk
Format Journal Article
LanguageEnglish
Published Cairo, Egypt Hindawi Publishing Corporation 01.01.2014
John Wiley & Sons, Inc
Wiley
Subjects
Algorithms
Alternative energy sources
Computer Simulation
Conservation of Energy Resources - economics
Costs and Cost Analysis - methods
Dynamic programming
Electric Power Supplies - economics
Electric utilities
Electricity
Energy policy
Energy storage
Fee Schedules
Genetic algorithms
Methods
Pricing policies
Renewable energy
Scheduling (Management)
Time Factors
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Summary:A real-coded genetic algorithm is used to schedule the charging of an energy storage system (ESS), operated in tandem with renewable power by an electricity consumer who is subject to time-of-use pricing and a demand charge. Simulations based on load and generation profiles of typical residential customers show that an ESS scheduled by our algorithmcan reduce electricity costs by approximately 17%, compared to a system without an ESS and by 8% compared to a scheduling algorithm based on net power.
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Academic Editor: Kuo-Ching Ying
ISSN:2356-6140
1537-744X
1537-744X
DOI:10.1155/2014/937329