LAPSE:2023.15322
Published Article
LAPSE:2023.15322
Dynamic Price-Based Demand Response through Linear Regression for Microgrids with Renewable Energy Resources
Muhammad Arshad Shehzad Hassan, Ussama Assad, Umar Farooq, Asif Kabir, Muhammad Zeeshan Khan, S. Sabahat H. Bukhari, Zain ul Abidin Jaffri, Judit Oláh, József Popp
March 2, 2023
The green innovations in the energy sector are smart solutions to meet the excessive power requirements through renewable energy resources (RERs). These resources have forwarded the revolutionary relief in control of carbon dioxide gaseous emissions from traditional energy resources. The use of RERs in a heuristic manner is necessary to meet the demand side management in microgrids (MGs). The pricing scheme limitations hinder the profit maximization of MG and their customers. In addition, recent pricing schemes lack mechanistic underpinning. Therefore, a dynamic electricity pricing scheme through linear regression is designed for RERs to maximize the profit of load customers (changeable and unchangeable) in MG. The demand response optimization problem is solved through the particle swarm optimization (PSO) technique. The proposed dynamic electricity pricing scheme is evaluated under two different scenarios. The simulation results verified that the proposed dynamic electricity pricing scheme sustained the profit margins and comforts for changeable and unchangeable load customers as compared to fixed electricity pricing schemes in both scenarios. Hence, the proposed dynamic electricity pricing scheme can readily be used for real microgrids (MGs) to grasp the goal for cleaner energy production.
Keywords
demand response, dynamic electricity pricing scheme, linear regression, Particle Swarm Optimization, renewable energy resources
Suggested Citation
Hassan MAS, Assad U, Farooq U, Kabir A, Khan MZ, Bukhari SSH, Jaffri ZUA, Oláh J, Popp J. Dynamic Price-Based Demand Response through Linear Regression for Microgrids with Renewable Energy Resources. (2023). LAPSE:2023.15322
Author Affiliations
Hassan MAS: Department of Electrical Engineering, The University of Faisalabad, Faisalabad 38000, Pakistan [ORCID]
Assad U: Department of Electrical Engineering, The University of Faisalabad, Faisalabad 38000, Pakistan [ORCID]
Farooq U: Department of Electrical Engineering, The University of Faisalabad, Faisalabad 38000, Pakistan [ORCID]
Kabir A: Department of CS & IT, University of Kotli, Azad Jammu & Kashmir, Azad Jammu and Kashmir 11100, Pakistan
Khan MZ: Department of Electrical Engineering, The University of Faisalabad, Faisalabad 38000, Pakistan
Bukhari SSH: School of Computer Science, Neijiang Normal University, Neijiang 641100, China
Jaffri ZUA: College of Physics and Electronic Information Engineering, Neijiang Normal University, Neijiang 641100, China [ORCID]
Oláh J: Faculty of Economics and Business, University of Debrecen, 4032 Debrecen, Hungary; College of Business and Economics, University of Johannesburg, Johannesburg 2006, South Africa [ORCID]
Popp J: College of Business and Economics, University of Johannesburg, Johannesburg 2006, South Africa; Hungarian National Bank—Research Center, John von Neumann University, Izsáki út 10, 6000 Kecskemét, Hungary [ORCID]
Journal Name
Energies
Volume
15
Issue
4
First Page
1385
Year
2022
Publication Date
2022-02-14
Published Version
ISSN
1996-1073
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PII: en15041385, Publication Type: Journal Article
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LAPSE:2023.15322
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doi:10.3390/en15041385
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