Exploiting Day-Ahead Electricity Price for Maximized Profit of Photovoltaic Systems

Awad A, Bazan P, German R (2012)

Publication Language: English

Publication Type: Conference contribution, Original article

Publication year: 2012

Publisher: IEEE Computer Society

Edited Volumes: 2012 International Conference on Smart Grid Technology, Economics and Policies, SG-TEP 2012

City/Town: Piscataway, NJ, USA

Pages Range: 1-4

Conference Proceedings Title: 2012 International Conference on Smart Grid Technology, Economics and Policies (SG-TEP)

Event location: Nürnberg DE

ISBN: 978-1-4673-5932-0

DOI: 10.1109/SG-TEP.2012.6642376

Abstract

This paper proposes a methodology for optimal power management in a house with photovoltaic cells and battery storage. The proposed method exploits the day-ahead electricity market to enhance the profit of a household. An hourly-discretized optimization algorithm is proposed to identify the optimum daily operational strategy to be followed by the photovoltaic system, provided that a forecast for solar-power and load is available. This model is suitable to be applied in the real time operation of a typical house. The proposed strategy maximizes the individual revenue without shifting power demand. We explored the proposed algorithm with and without feed-in tariff. The results show that a typical house can save about 300 e/year when applying optimized power management.

Authors with CRIS profile

Abdalkarim Awad Computer Science 7 (Computer Networks and Communication Systems) Peter Bazan Computer Science 7 (Computer Networks and Communication Systems) Reinhard German Computer Science 7 (Computer Networks and Communication Systems)

Related research project(s)

Hybrid Simulation of Intelligent Energy Systems Energie Campus Nürnberg Oct. 1, 2011 - Dec. 31, 2016

How to cite

APA:

Awad, A., Bazan, P., & German, R. (2012). Exploiting Day-Ahead Electricity Price for Maximized Profit of Photovoltaic Systems. In 2012 International Conference on Smart Grid Technology, Economics and Policies (SG-TEP) (pp. 1-4). Nürnberg, DE: Piscataway, NJ, USA: IEEE Computer Society.

MLA:

Awad, Abdalkarim, Peter Bazan, and Reinhard German. "Exploiting Day-Ahead Electricity Price for Maximized Profit of Photovoltaic Systems." Proceedings of the IEEE International Conference on Smart Grid Technology, Economics and Policies (SG-TEP 2012), Nürnberg Piscataway, NJ, USA: IEEE Computer Society, 2012. 1-4.

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