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With the rapid growth in renewable energy and battery storage technologies, there exists significant opportunity to improve energy efficiency and reduce costs through optimization. However, optimization algorithms must take into account the underlying dynamics and uncertainties of the various interconnected subsystems in order to fully realize this potential. To this end, we formulate and solve an energy management optimization problem as a Markov Decision Process (MDP) consisting of battery storage dynamics, a stochastic demand model, a stochastic solar generation model, and an electricity pricing scheme. The stochastic model for predicting solar generation is constructed based on weather forecast data from the National Oceanic and Atmospheric Administration. A near-optimal policy design is proposed via stochastic dynamic programming. Simulation results are presented in the context of storage and solar-integrated residential and commercial building environments. Results indicate that the near-optimal policy significantly reduces the operating costs compared to several heuristic alternatives. The proposed framework facilitates the design and evaluation of energy management policies with configurable demand-supply-storage parameters in the presence of weather-induced uncertainties.
Increasing wind turbines (WT) penetration and low carbon demand can potentially lead to two different flow peaks, generation and load, within distribution networks. This will not only constrain WT penetration but also pose serious threats to network
In this paper, we investigate a sparse optimal control of continuous-time stochastic systems. We adopt the dynamic programming approach and analyze the optimal control via the value function. Due to the non-smoothness of the $L^0$ cost functional, in
We study the canonical quantity-based network revenue management (NRM) problem where the decision-maker must irrevocably accept or reject each arriving customer request with the goal of maximizing the total revenue given limited resources. The exact
This paper proposes a new algorithm -- the underline{S}ingle-timescale Dounderline{u}ble-momentum underline{St}ochastic underline{A}pproxunderline{i}matiounderline{n} (SUSTAIN) -- for tackling stochastic unconstrained bilevel optimization problems. W
This work considers energy management in a grid-connected microgrid which consists of multiple conventional generators (CGs), renewable generators (RGs) and energy storage systems (ESSs). A two-stage optimization approach is presented to schedule the