Real-Time Decision Making Energy Seminar

Human-in-the-loop Demand Response: Opportunities and Challenges

We discuss a possible paradigm of engaging retail-level customers via voluntary “Energy Coupon” (downloadable APP). Based on the experimental data, we present a theoretically rigorous and practically implementable approach to solving chance-constrained economic dispatch based on scenario approach-based optimization. This approach provides theoretical guarantee of the level of risks based on the size of the historical samples used in the optimization. Furthermore, it offers an option to remove certain scenarios in exchange for quantifiable risk increment. We conclude with a critical assessment of the ISO architecture with the presence of stochastic decision making of demand response participants.