| Title of Article |
The Novel Price Elasticity of Demand Model for Time of Use Electricity Rates Determination |
| Date of Acceptance |
13 October 2019 |
| Journal |
| Title of Journal |
International Journal of Engineering Research and Technology (IJERT) ISSN:0974–3154 |
| Standard |
SCOPUS |
| Institute of Journal |
International Research Publication House |
| ISBN/ISSN |
|
| Volume |
Number 10 (2019) |
| Issue |
12 |
| Month |
July-December |
| Year of Publication |
2019 |
| Page |
1799-1807 |
| Abstract |
Nowadays, people pay attention to renewable energy due to its clean energy and decrease of fossil fuels reliance. Solar energy which is a part of renewable energy plays an important role in electricity generation because of its reasonable cost of devices and convenient to install at building and rooftop. This is the cause of electricity generation increasing in the daytime. While the power demand in the residential customer in the night time keep on going up but low power demand at daytime. The electricity rates determination is important part in order to persuade customer to changed their behavior of electric consumption. The time-of-use (TOU) rates which determines different electricity price rate for different time period in a day is extensively applied to electrical system for encouraging customer participation in demand response program. This paper presents the method to determine optimal TOU rates for residential customer by using price elasticity of demand model to evaluate the change in demand after changing electricity rates. The new cross-elasticity is proposed in order to determine power demand change due to change of electricity rates at other times. TOU rates determination has three objectives consisting of minimizing peak demand, maximizing load factor (L.F.) and minimizing customer’s energy cost which benefit both utility and customers. To find the optimal value of TOU rates, Multi-Objective Differential Evolution (MODE) is used to solve problem and show the Pareto front of non-dominated solution. The proposed method is applied to residential customers of provincial electricity authority (PEA). The result of new optimal TOU evaluation shown that peak load and total customer’s energy cost were decreased and load factor was increased from the original data. |
| Keyword |
Multi-Objective Differential Evolution (MODE), Pareto front, power demand, price elasticity of demand (PED) and time-of-use (TOU) rates |
| Author |
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| Reviewing Status |
มีผู้ประเมินอิสระ |
| Status |
ได้รับการตอบรับให้ตีพิมพ์ |
| Level of Publication |
นานาชาติ |
| citation |
false |
| Part of thesis |
true |
| Attach file |
|
| Citation |
0
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Publication
Journal Publication
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