Abstract
We discuss the application of classical variational methods to optimal charging/discharging strategies for a prosumer or storage supplier, where the price of electrical power is known in advance. We outline how a classical calculus of variations approach can be applied to two related problems: (i) how can a prosumer minimise the cost of charging/discharging a battery, when the price of electrical power is known throughout the charging/discharging period? and (ii) how can an electricity supplier incentivise desired prosumer/storage supplier behaviour by adjusting the price?
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