On Demand Response Modeling and Optimization of Power in A Smart Grid

The electrical grid is under reform; the increasing volatile renewable energy production and distributed local generation compel the development of a future where the consumption of electricity can also participate in maintaining the production-consumption balance of the grid. There is a vast amount of recent research activity related to exploiting residential and industrial consumption elasticity. This paper presents a selected overview of various facets of modeling, optimizing and simulating the demand response potential and effects, especially with emergent soft computing methods. In addition, some illustrating examples are presented, where various relevant approaches from recent state-of-the-art research, including soft computing methods, are reviewed.