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Electric power consumption-Forecasting, Application software, Dashboards (Management information systems), Multiagent systems, Energy dashboard app, Demand response, Forecasting, Multi-agent model
The mechanism of rewarding the customers for reducing consumption during peak demand hours is known as demand response. As an alternative resource to balancing supply and demand, it offers savings on electric bills or financial gains through incentive payments. Demand response lowers the cost of electricity generation, defers the construction of new power plants and transmission lines, and can reduce greenhouse gas emissions if energy conservation would be achieved. Customer participation is the most significant element in demand response actualization, as demand response is strongly dependent on customer availability and willingness to respond. This thesis focuses on two aspects to improve customer interest and confidence in demand response. First, the creation of the web application that allows customers to visualize the benefits and impacts through an online dashboard display if they participate in demand response. Second, the multi-agent system enables the two-way communication in actual implementation between the system operator and the demand response provider, and between the demand response provider and customers. This not only facilitates demand response, but also enhances the effectiveness of load shifting after demand response through regulation, preventing the occurrence of new peak demand spikes caused by ineffective load shifting.
Lu, Jinjin, "Demand response actualization in the electricity market" (2014). Honors Project, Smith College, Northampton, MA.
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61 pages : color illustrations. Honors Project-Smith College, 2014. Includes bibliographical references (pages 59-61)