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With the growing trend in the amount of power consumed by data centers, finding ways to cut their electricity bills has become an important and challenging problem. In this paper, our focus is on the cost reduction that data centers may achieve by exploiting the diversity in the price of electricity in day-ahead and real-time electricity markets. Based on a stochastic optimization framework, we propose...
Under dynamic pricing, organizations can reduce their electricity cost by varying their load with price. When the end load is inflexible, storage can match the energy draw from the grid to the price. In this paper we present a general model for power cost management by shifting demand for high power away from high electricity price periods through imperfect energy storages. Using Lyapunov optimization,...
Eventually, society will need to be powered almost entirely by renewable energy sources. This will require very large scale storage for long time periods, such as between seasons or even between years. On these timescales, issues such as gradual leakage of energy and price rises must be considered. This paper considers optimal storage management schedules on these long time scales, from the point...
In the smart grid system, dynamic pricing can be an efficient tool for the service provider which enables efficient and automated management of the grid. However, in practice, the lack of information about the customers' time-varying load demand and energy consumption patterns and the volatility of electricity price in the wholesale market make the implementation of dynamic pricing highly challenging...
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