Smart Grid: Applications, Algorithms and Computational Methods II

Widespread adoption of renewable power sources is expected to place substantial burden on electric power distribution systems (the grid). The smart grid is defined as a multifaceted approach to maintaining equality between generated and consumed power. Under such a scenario, those with sufficient operational flexibility will be able to exploit demand response opportunities to reduce average energy costs and possibly generate new revenue streams. This session will focus on the process related question of operational flexibility and methods to evaluate and utilize this flexibility within the context of smart grid participation.