An increasing number of retail energy markets show price fluctuations, providing users with the opportunity to buy energy at lower than average prices. In the future smart grid, it is possible each end-user obtains energy storage devices such as battery. In this case, users are allowed to exploit the price variations to buy inexpensive energy in a battery, and use it to satisfy demand when energy prices are high. A battery control policy that yields the best performance, i.e., minimize the total discounted costs is proposed. The optimal policy is shown as to have a threshold structure. In the end, several possible future directions are proposed.
Qisheng has just received his bachelor’s degree in Electrical Engineering from Xi’an Jiaotong University in the summer of 2014. He is currently a PhD student supervised by Prof. Costas Courcoubetis at SUTD. His research interest is much involved in Smart Grid, Game Theory and Energy Saving System.
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