@inproceedings{77fde325f81e4070bd73ff64e1c8b604,
title = "Improving social welfare by demand response general framework and quantitative characterization",
abstract = "One way to improve the efficiency of the electricity system is by including demand participation in the market, as opposed to the traditional supply-follow-demand approach. In this work, we build upon literature to model a general T-period electricity market consisting of price-taking prosumers with multiple types of appliances, an utility company and a social planner distribution system operator (DSO), where we remove the restricting assumptions that prosumer cannot be net-sellers and EVs cannot discharge back to the grid. We show that a social welfare maximizing market equilibrium exists. Furthermore, through a case study with quadratic utility functions, we characterize explicitly the social welfare improvement, resulting from allowing prosumers to be a net-seller and EVs to discharge, as a function of utility function parameters by using quadratic programming duality.",
keywords = "Demand response, Electricity market, Net-seller, Prosumer, Social welfare",
author = "Ding Xiang and Ermin Wei",
note = "Publisher Copyright: {\textcopyright} 2017 IEEE.; 5th IEEE Global Conference on Signal and Information Processing, GlobalSIP 2017 ; Conference date: 14-11-2017 Through 16-11-2017",
year = "2018",
month = mar,
day = "7",
doi = "10.1109/GlobalSIP.2017.8309117",
language = "English (US)",
series = "2017 IEEE Global Conference on Signal and Information Processing, GlobalSIP 2017 - Proceedings",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
pages = "1030--1034",
booktitle = "2017 IEEE Global Conference on Signal and Information Processing, GlobalSIP 2017 - Proceedings",
address = "United States",
}