We investigate the problem of allocating energy from renewable sources to flexible consumers in electricity markets. We assume there is a renewable energy supplier that provides energy according to a time-varying (and possibly unpredictable) supply process. The plant must serve consumers within a specified delay window, and incurs a cost of drawing energy from other (possibly non-renewable) sources if its own supply is not sufficient to meet the deadlines. We formulate two stochastic optimization problems: The first seeks to minimize the time average cost of using the other sources (and hence strives for the most efficient utilization of the renewable source). The second allows the renewable source to dynamically set a price for its service, and seeks to maximize the resulting time average profit. These problems are solved via the Lyapunov optimization technique. Our resulting algorithms do not require knowledge of the statistics of the time-varying supply and demand processes and are robust to arbitrary sample path variations. 978-1-4244-6511-8/10/$26.00 ©2010 IEEE
In REF , the authors consider the problem of minimizing the time average cost of using energy resources other than the basic ones, so that the queue of backlogged demands is stable, and demands are served within some prescribed delay.
Efficient Algorithms for Renewable Energy Allocation to Delay Tolerant Consumers
2010 First IEEE International Conference on Smart Grid Communications
2010 First IEEE International Conference on Smart Grid Communications
Mathematics Engineering