Demand Response and Energy Storage for a Cost Optimal Residential Energy Supply with Renewable Generation

Renewable energy generation has been increasing for years, and is
likely to increase even more in the future. Private households contribute to the increase of renewable generation for example with the installation of roof-mounted photovoltaic plants. Owners are interested in making the most out of their local resources to keep energy costs as low as possible. To reach this aim, a household can apply energy storage and the change of load demand, also called demand response, or cooperate with other houses in the vicinity by sharing renewable generation and coordinating load demand to minimize the collective energy costs.