In the future smart grid, improvement of power system economic cost effectiveness by suitable integration of distributed energy resources (DERs) is a critical challenge. An agent–based framework is proposed in this paper for developing suitable control strategies for operations of four different types of residential–level DERs, which are storage devices, photo voltaic systems, and two variants of combined heat and power plants. Each DER operates independently by minimising its operating cost in a decentralised manner. The effect of higher adaptation of such DERs by residential consumers on the power system load factor and peak load values are investigated through simulation studies with real data from the Ontario electricity market. The results include several interesting implications which are explored in detail.
Keywords: distributed energy resources, DERs, agent–based modelling, ABM, multi–agent systems, MAS, smart grid, particle swarm optimisation, PSO, residential energy resources, storage devices, photovoltaic systems, combined heat and power, CHP plants, Canada, power system load factor, peak load values, simulation, decentralised operation