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Investigating the performance of a new real-time dynamic pricing controller for the smart grid

Nijman, B. (2017) Investigating the performance of a new real-time dynamic pricing controller for the smart grid. Bachelor's Thesis, Industrial Engineering and Management.

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Provisioning energy has become increasingly complicated due to several reasons, including the increased share of renewable energy. As a result, it has become more difficult for traditional energy sources to match supply and demand. One effective approach to deal with these challenges is to use real-time dynamic pricing as a control method. There have been different approaches to design this method. In this thesis, a new dynamic pricing controller based on two existing controllers is in investigated, that is hypothesized have the benefit of dealing better with time-varying demands than the existing controllers. For various configurations of system parameters, the ability of the controller to reach stability in the network is characterized and the settling times and maximum frequency deviations are measured as measures for the controller's performance. The performance of the controller is compared to the performance of existing controllers using simulations of a simplified four area power network. The results show that the existing controllers respond faster than the proposed system, for most of the configurations tested. However, the proposed system has the advantage that it needs less information of state variables in its calculation of the electricity price and is able to deal with more complex utility functions so it may still be considered as a valid alternative to the existing methods.

Item Type: Thesis (Bachelor's Thesis)
Degree programme: Industrial Engineering and Management
Thesis type: Bachelor's Thesis
Language: English
Date Deposited: 15 Feb 2018 08:26
Last Modified: 15 Feb 2018 08:26

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