Learning to Price Electricity for Optimal Demand Response
Abstract: The time at which renewable (e.g., solar or wind) energy resources produce electricity cannot generally be controlled. In many settings, however, consumers have some flexibility in their energy consumption needs, and there is growing interest in demand-response programs that leverage this flexibility to shift energy consumption to better match renewable production — thus enabling more efficient utilization of these resources. We study optimal demand response in a setting where consumers use home energy management systems (HEMS) to autonomously adjust…



