2017/09/23 by Siddharth Patel, Patel, Siddharth, Rasouli, Mohammad +5 · 1 citation
Economics, Econometrics and Finance · Energy · Engineering · #Electric Power System Optimization #Energy Efficiency and Management #FOS: Electrical engineering #Housing Market and Economics #Smart Grid Energy Management #Systems and Control (eess.SY) #electronic engineering #information engineering
paper · pdf · doi:10.48550/arxiv.1709.08140
openalex publication_date 2017/09/23 · openalex created_date 2022/10/04 · openalex updated_date 2026/07/28
The presence of behind-the-meter rooftop photovoltaics and storage in the\nresidential sector is poised to increase significantly. Here we quantify in\ndetail the value of these technologies to consumers and service providers. We\ncharacterize the heterogeneity in household electricity cost savings under\ntime-varying prices due to consumption behavior differences. Different pricing\npolicies significantly alter how households fare with respect to one another.\nFurthermore, household savings in absolute terms are not strongly correlated\nwith savings normalized by PV and storage system size. We characterize the\nfinancial value of improved forecasting capabilities for a household, finding\nthat it is a relatively small fraction of a household's cost savings.\nCoordination services that combine the resources available at all households\ncan reduce costs by an additional 10% to 15% of the original total cost.\nSurprisingly, coordination service providers will not encourage adoption beyond\n35-55% within a group. We present a simple model that explains the value of\ncoordination and its relationship to the pricing of distribution services.\n