Abstract
It is essential for the electricity sector to analyze and determine the distribution capacity throughput and apply new methods aimed at increasing the capacity of the transmission system. Consequently, the transition to modern electricity networks is two-sided, i.e., involving technological and social modifications. The demand response (DR) redistributes consumption away from peak times when grid load and costs are the highest. It incentivizes customers to use electricity when supply is high and inexpensive due to various market mechanisms. The present DR policy proposals stress the importance of fostering behavioral change through competitive pricing and customer participation in reducing carbon emissions and implementing smart energy solutions (including monitoring tools, such as smart meters and applications). The internet of things (IoT) has been applied to ensure adaptive monitoring of energy consumption and cost-effective and adequate demand-side management (DSM). The article is based on the research of the most recent sources of DR implementation methods applied at the power distribution level. It explains the main concepts, classifications, and entities implementing DSM programs, and suggests new visions and prospects for DSM and DR. Moreover, it discusses the application of blockchain technology potential for the internet of energy.
Highlights
It is estimated that by 2040 market demand for electricity will rise by up to 30%compared to 2017
demand response (DR) deals with large amounts of data and processing, often requiring real-time decision making, which means that the energy sector has already started applying such technologies as artificial intelligence (AI), including machine learning, multi-agent systems, artificial neural networks (ANNs), nature-inspired optimization techniques
DR is one of the most important instruments for market-based effects created by transmission and distribution system operators and energy suppliers for end consumers
Summary
It is estimated that by 2040 market demand for electricity will rise by up to 30%. compared to 2017. The transition should be regarded systematically, considering all possible technologies and methods This can be achieved through demand management, electricity conservation, investment in infrastructure, market mechanisms, and ancillary services (i.e., phase-voltage balancing, load-generation balancing by changing the generating schedule to suit demand, and voltampere reactive (VAR) support for voltage control), which are essential measures for improving the energy system’s flexibility. Among the technologies are energy storage solutions, such as batteries, that meet peak demands or accumulate excess energy [22] These smart technologies are incorporated into various parts of the new generation power systems, starting with production and ending with power consumption monitoring, aiming to improve the system’s efficiency and stability [20].
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