Demand response in consumer-Centric electricity market: Mathematical models and optimization problems

This article presents an overview of mathematical modeling and optimization of demand response (DR) algorithms reported in the literature. The DR can be implemented at various levels in the power system. In view of this, DR related literature is classified into a single home, aggregated home, network level, and market-level demand response. The mathematical formulation and the issues associated with each level are discussed. It provides detailed information on modeling, implementation, uncertainty handling in DR. Moreover, the integration of the battery energy storage system (BESS), electric vehicle (EV), and renewable energy sources are provided in the DR perspective. Also, the research gaps and future research directions in the field of DR are discussed at the end.

Automated summary

This article provides an overview of mathematical modeling and optimization of demand response algorithms, categorizing literature into single home, aggregated home, network level, and market-level demand response. It discusses the mathematical formulation and associated issues at each level, as well as detailed information on modeling, implementation, and uncertainty handling in DR. Additionally, it explores the integration of battery energy storage systems, electric vehicles, and renewable energy sources in the context of demand response.