@inproceedings{660815a5bd934b9bb3c09c9a7123b835,
title = "Coalitional game theoretic optimization of electricity cost for communities of smart households",
abstract = "In this paper we propose a novel coalitional game theory based optimization method for minimizing the cost of the electricity consumed from the power grid by a community of smart households. A smart household may own both a renewable energy source and an energy storage system (ESS), or only an ESS. We propose an optimization model in which all the members of the community jointly share their renewable resources and storage systems. We show that the proposed coalitional optimization method reduces the consumption costs both at community level and at the individual level when compared to the case in which the households would individually optimize their costs. The monetary revenues gained by the coalition are divided among the members of the coalition according to the Shapley value. Simulation examples show that the proposed coalitional optimization method may reduce the electricity costs for the community by roughly 18%.",
keywords = "coalitional game theory, cost reduction, renewable resources, Smart grids, smart households",
author = "Adriana Chi{\c s} and Jarmo Lund{\'e}n and Visa Koivunen",
year = "2017",
month = jun,
day = "16",
doi = "10.1109/ICASSP.2017.7953053",
language = "English",
series = "Proceedings of the IEEE International Conference on Acoustics, Speech, and Signal Processing",
publisher = "IEEE",
pages = "4726--4729",
booktitle = "2017 IEEE International Conference on Acoustics, Speech, and Signal Processing, ICASSP 2017 - Proceedings",
address = "United States",
note = "IEEE International Conference on Acoustics, Speech, and Signal Processing, ICASSP ; Conference date: 05-03-2017 Through 09-03-2017",
}
