Determining cost-efficient controls of electrical energy storages using dynamic programming
Abstract Volatile electrical energy prices are a challenge and an opportunity for small and medium-sized companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can significantly profit from time-depending energy prices and...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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SpringerOpen
2024-02-01
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| Series: | Journal of Mathematics in Industry |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s13362-024-00140-1 |
| _version_ | 1797275572198440960 |
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| author | Michael Stiglmayr Svenja Uhlemeyer Björn Uhlemeyer Markus Zdrallek |
| author_facet | Michael Stiglmayr Svenja Uhlemeyer Björn Uhlemeyer Markus Zdrallek |
| author_sort | Michael Stiglmayr |
| collection | DOAJ |
| description | Abstract Volatile electrical energy prices are a challenge and an opportunity for small and medium-sized companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can significantly profit from time-depending energy prices and reduce their energy costs. We consider a time-discrete optimal control problem to reach a desired final state of the energy storage at a certain time step. Thereby, the energy input is discrete since only multiples of 100 kWh can be purchased at the EPEX SPOT market. We use available price estimates to minimize the total energy cost by a rounding based dynamic programming approach. With our model non-linear energy loss functions of the storage can be considered and we obtain a significant speed-up compared to the integer (linear) programming formulation. |
| first_indexed | 2024-03-07T15:16:22Z |
| format | Article |
| id | doaj.art-c011907184fc4d7b8011609af3fd9402 |
| institution | Directory Open Access Journal |
| issn | 2190-5983 |
| language | English |
| last_indexed | 2024-03-07T15:16:22Z |
| publishDate | 2024-02-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Journal of Mathematics in Industry |
| spelling | doaj.art-c011907184fc4d7b8011609af3fd94022024-03-05T17:55:46ZengSpringerOpenJournal of Mathematics in Industry2190-59832024-02-0114111210.1186/s13362-024-00140-1Determining cost-efficient controls of electrical energy storages using dynamic programmingMichael Stiglmayr0Svenja Uhlemeyer1Björn Uhlemeyer2Markus Zdrallek3School of Mathematics and Natural Sciences, IZMD, University of WuppertalSchool of Mathematics and Natural Sciences, IZMD, University of WuppertalSchool of Electrical, Information and Media Engineering, University of WuppertalSchool of Electrical, Information and Media Engineering, University of WuppertalAbstract Volatile electrical energy prices are a challenge and an opportunity for small and medium-sized companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can significantly profit from time-depending energy prices and reduce their energy costs. We consider a time-discrete optimal control problem to reach a desired final state of the energy storage at a certain time step. Thereby, the energy input is discrete since only multiples of 100 kWh can be purchased at the EPEX SPOT market. We use available price estimates to minimize the total energy cost by a rounding based dynamic programming approach. With our model non-linear energy loss functions of the storage can be considered and we obtain a significant speed-up compared to the integer (linear) programming formulation.https://doi.org/10.1186/s13362-024-00140-1Discrete control problemRounding-based dynamic programmingVolatile energy marketApproximation algorithmMixed-integer programming |
| spellingShingle | Michael Stiglmayr Svenja Uhlemeyer Björn Uhlemeyer Markus Zdrallek Determining cost-efficient controls of electrical energy storages using dynamic programming Journal of Mathematics in Industry Discrete control problem Rounding-based dynamic programming Volatile energy market Approximation algorithm Mixed-integer programming |
| title | Determining cost-efficient controls of electrical energy storages using dynamic programming |
| title_full | Determining cost-efficient controls of electrical energy storages using dynamic programming |
| title_fullStr | Determining cost-efficient controls of electrical energy storages using dynamic programming |
| title_full_unstemmed | Determining cost-efficient controls of electrical energy storages using dynamic programming |
| title_short | Determining cost-efficient controls of electrical energy storages using dynamic programming |
| title_sort | determining cost efficient controls of electrical energy storages using dynamic programming |
| topic | Discrete control problem Rounding-based dynamic programming Volatile energy market Approximation algorithm Mixed-integer programming |
| url | https://doi.org/10.1186/s13362-024-00140-1 |
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