Minimizing Total Cost of Home Energy Consumption under Uncertainties

Abstract

Along with the development of renewable energy sources, energy storage units are introduced to increase the stability and reliability of electricity production. The storage units can improve the efficiency of energy consumption for consumers as well. By smartly controlling home appliances, renewable energy sources and energy storage units, consumers can satisfy their energy demand with a minimum cost. However, the declined maximum capacity of energy storage units and the unstable power of electricity grid, due to randomly unexpected failures, can cause challenges for consumers’ energy plans. In this article, we develop a novel joint chance-constraint mixed-integer linear programming model to support consumers in finding the optimal energy plans for a minimum cost of energy consumption under the simultaneous impact of unexpected failures on energy storage units and electricity grid. A case study for a set of households in Nottingham, United Kingdom, is used to demonstrate the efficiency of the proposed model. Some interesting insights are achieved for home energy management under uncertainties.