Abstract
In this paper, we study demand response (DR) management when a wind farm is connected to a smart grid. Total social welfare, defined in terms of consumer utility and cost of power production, is maximized while the probability of power deficit due to the uncertainty in renewable production is limited by an upper bound. We find the optimal deficit-limiting conventional power production and consumption schedules, and demonstrate their superiority over competing policies, particularly when the renewable share is high. It is also noted that geographically diverse turbines (or wind farms) should be connected to the grid to ensure less variable power output and low enough probability of deficit.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
