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Optimal prosumer decision-making using factored MDPs

Angelidakis Angelos, Chalkiadakis Georgios

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URIhttp://purl.tuc.gr/dl/dias/AC6E8DD9-AA80-4D27-9562-298AF8E712A3-
Identifierhttps://dl.acm.org/citation.cfm?id=3061228-
Languageen-
Extent5 pagesen
TitleOptimal prosumer decision-making using factored MDPsen
CreatorAngelidakis Angelosen
CreatorΑγγελιδακης Αγγελοςel
CreatorChalkiadakis Georgiosen
CreatorΧαλκιαδακης Γεωργιοςel
Publisher International Joint Conferences on Artificial Intelligenceen
Content SummaryTackling the decision-making problem faced by a prosumer (i.e., a producer that is simultaneously a consumer) when selling and buying energy in the emerging smart electricity grid, is of utmost importance for the economic profitability of such a business entity. In this work, we model, for the first time, this problem as a factored Markov Decision Process. By so doing, we are able to represent the problem compactly, and provide an exact optimal solution via dynamic programming- notwithstanding its large size. Our model successfully captures the main aspects of the business decisions of a prosumer corresponding to a community microgrid of any size. Moreover, it includes appropriate sub-models for prosumer production and consumption prediction. Experimental simulations verify the effectiveness of our approach; and show that our exact value iteration solution matches that of a state-of-the-art method for stochastic planning in very large environments, while outperforming it in terms of computation time.en
Type of ItemΠλήρης Δημοσίευση σε Συνέδριοel
Type of ItemConference Full Paperen
Licensehttp://creativecommons.org/licenses/by/4.0/en
Date of Item2018-10-30-
Date of Publication2016-
SubjectMDPsen
SubjectΛήψη αποφάσεωνel
SubjectDecision making en
Bibliographic CitationA. Angelidakis and G. Chalkiadakis, "Optimal prosumer decision-making using factored MDPs," in 25th International Joint Conference on Artificial Intelligence, 2016, pp. 4110-4114.en

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