A Holistic Analysis of Privacy-Aware Smart Grid Demand Response

Abstract

This study presents a privacy-aware stochastic multiobjective optimization framework that considers the objectives of both consumers and utility companies (UCs) in a demand response (DR) scheme. This framework enables a fair optimization of all the objectives together, and can be used to observe their effects on one another. Using this framework, we performed a comprehensive exploration of the relationships between the objectives of consumers and UCs. The uncertainty of photovoltaic energy sources is modeled by using a stochastic optimization approach. The objectives of the households include minimizing monetary cost and maximizing privacy and comfort. The UC's objectives include minimizing the peak demand and variation of the power demand. This study is the first to present a holistic analysis of privacy-aware DR by incorporating all five objectives of both supply and demand sides. The results reveal that near-optimal privacy performance is achievable with small compromises from the other objectives.