Residential electrical and thermal storage optimisation in a market environment

This study presents a method for the energy management of a set of smart homes, in which batteries, thermal storage and demand response are considered as flexibilities in order to achieve minimum operation costs. To cope with the uncertainty of load forecast, a two-stage stochastic optimisation process is proposed, in which the first-stage decision is the committed energy to be purchased, and the second stage returns the devices’ set points. This methodology has been developed in the context of the Horizon 2020 project storage enabled sustainable energy as part of the tasks related to the use case, flexibility and demand-side management in market participation.