Multi-Objective Residential Demand Side Management with Game Theory Approach

Abstract

Residential demand side management (DSM) methods are essentially required to overcome the future energy crisis. From the practical point of view, multiple objectives need to be considered in the DSM implementation. Therefore this paper proposes a multi-objective residential DSM problem based on a game theory approach. Two different DSM objectives such as the minimization of the consumers' energy bill and the minimization of the peak load demand are considered in this work. A cooperative game theory approach is used in this paper to generate the best compromise solution based on the concept of super-criterion and Pareto-minimum solution. According to the cooperative game approach, each DSM objective acts as a player and finally, all players can get win-win nature with collective negotiations. The proposed DSM method is successfully evaluated with different scenarios having different number of residential consumers like 10, 100, 500, and 1000. Simulation results show that the proposed game based multi-objective residential DSM is able to find the best compromise solution for all the scenarios.