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Incentive based demand response (IBDR) offers one of the more promising opportunities for engineering sustainable electricity services. While there are a wide range of studies representing the potential of IBDR program in the power market, understanding customer response needs further study. A key component in all demand response (DR) programs' design is the elasticity which implies customer reaction...
Incentive-based demand response (IBDR) is an important category of demand response (DR) programs with large untapped potential, especially in the residential sector. Understanding customers elasticity is key to effective design of incentives. However due to limited information, price-based elasticity is needed in IBDR modeling as well. In this work, customer elasticity for an IBDR program is calculated...
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