A Real-Time Demand-Response Algorithm for Smart Grids: A Stackelberg Game Approach
- Authors
- Yu, Mengmeng; Hong, Seung Ho
- Issue Date
- Mar-2016
- Publisher
- IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
- Keywords
- Demand-response (DR); optimization; real-time prices (RTPs); smart grid; Stackelberg game
- Citation
- IEEE TRANSACTIONS ON SMART GRID, v.7, no.2, pp.879 - 888
- Indexed
- SCIE
SCOPUS
- Journal Title
- IEEE TRANSACTIONS ON SMART GRID
- Volume
- 7
- Number
- 2
- Start Page
- 879
- End Page
- 888
- URI
- https://scholarworks.bwise.kr/erica/handle/2021.sw.erica/14181
- DOI
- 10.1109/TSG.2015.2413813
- ISSN
- 1949-3053
- Abstract
- This paper proposes a real-time price (RTP)-based demand-response (DR) algorithm for achieving optimal load control of devices in a facility by forming a virtual electricity-trading process, where the energy management center of the facility is the virtual retailer (leader) offering virtual retail prices, from which devices (followers) are supposed to purchase energy. A one-leader, N-follower Stackelberg game is formulated to capture the interactions between them, and optimization problems are formed for each player to help in selecting the optimal strategy. The existence of a unique Stackelberg equilibrium that provides optimal energy demands for each device was demonstrated. The simulation analysis showed that the Stackelberg game-based DR algorithm is effective for achieving the optimal load control of devices in response to RTP changes with a trivial computation burden.
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