CVaR-based stochastic energy management of a smart home
Considering recent developments in photovoltaic (PV) systems, storage, and electrical vehicles, not unexpected that one day smart homes will also take part in energy markets directly. In this regard, the presented paper proposes a stochastic programming approach to manage the consumption of a smart...
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my.utm.988552023-02-02T09:45:07Z http://eprints.utm.my/id/eprint/98855/ CVaR-based stochastic energy management of a smart home Akbari Dibavar, Alireza Zare, Kazem Mohammadi Ivatloo, Behnam Anvari Moghaddam, Amjad Abdul Malek, Zulkurnain TK Electrical engineering. Electronics Nuclear engineering Considering recent developments in photovoltaic (PV) systems, storage, and electrical vehicles, not unexpected that one day smart homes will also take part in energy markets directly. In this regard, the presented paper proposes a stochastic programming approach to manage the consumption of a smart home according to intermittent PV system production and uncertain energy prices to make the smart home available for taking part in the local day-Ahead (DA) energy market. A battery storage system is integrated to make flexibility against price fluctuations. Furthermore, modeling of plug-in electric vehicles (PEV) is also provided, where the traveling pattern is modeled through scenarios. The goal is to maximize the daily profit of the smart home while the welfare of the inhabitants is satisfied by considering comfort constraints. In addition, the conditional value at risk (CVaR) risk index is considered to manage associated risk with gained profit. The obtained results show the effectiveness of the optimization framework, in which the expected daily profit of the homeowner can reach 1.72 per day in the risk-neutral condition. 2022 Conference or Workshop Item PeerReviewed Akbari Dibavar, Alireza and Zare, Kazem and Mohammadi Ivatloo, Behnam and Anvari Moghaddam, Amjad and Abdul Malek, Zulkurnain (2022) CVaR-based stochastic energy management of a smart home. In: 2022 IEEE International Conference in Power Engineering Application, ICPEA 2022, 7 - 8 March 2022, Shah Alam, Malaysia. http://dx.doi.org/10.1109/ICPEA53519.2022.9744666 |
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TK Electrical engineering. Electronics Nuclear engineering Akbari Dibavar, Alireza Zare, Kazem Mohammadi Ivatloo, Behnam Anvari Moghaddam, Amjad Abdul Malek, Zulkurnain CVaR-based stochastic energy management of a smart home |
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Considering recent developments in photovoltaic (PV) systems, storage, and electrical vehicles, not unexpected that one day smart homes will also take part in energy markets directly. In this regard, the presented paper proposes a stochastic programming approach to manage the consumption of a smart home according to intermittent PV system production and uncertain energy prices to make the smart home available for taking part in the local day-Ahead (DA) energy market. A battery storage system is integrated to make flexibility against price fluctuations. Furthermore, modeling of plug-in electric vehicles (PEV) is also provided, where the traveling pattern is modeled through scenarios. The goal is to maximize the daily profit of the smart home while the welfare of the inhabitants is satisfied by considering comfort constraints. In addition, the conditional value at risk (CVaR) risk index is considered to manage associated risk with gained profit. The obtained results show the effectiveness of the optimization framework, in which the expected daily profit of the homeowner can reach 1.72 per day in the risk-neutral condition. |
format |
Conference or Workshop Item |
author |
Akbari Dibavar, Alireza Zare, Kazem Mohammadi Ivatloo, Behnam Anvari Moghaddam, Amjad Abdul Malek, Zulkurnain |
author_facet |
Akbari Dibavar, Alireza Zare, Kazem Mohammadi Ivatloo, Behnam Anvari Moghaddam, Amjad Abdul Malek, Zulkurnain |
author_sort |
Akbari Dibavar, Alireza |
title |
CVaR-based stochastic energy management of a smart home |
title_short |
CVaR-based stochastic energy management of a smart home |
title_full |
CVaR-based stochastic energy management of a smart home |
title_fullStr |
CVaR-based stochastic energy management of a smart home |
title_full_unstemmed |
CVaR-based stochastic energy management of a smart home |
title_sort |
cvar-based stochastic energy management of a smart home |
publishDate |
2022 |
url |
http://eprints.utm.my/id/eprint/98855/ http://dx.doi.org/10.1109/ICPEA53519.2022.9744666 |
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1758578028868272128 |
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13.160551 |