Promotion of Wind Generated Electricity Using Price Responsive Demand Side Management: Price Prediction Analysis for Imperfect Energy Storage

Ireland aims to source 40% of its electricity needs from renewable energies by 2020. This will be largely met by intermittent energy sources, primarily such as wind, wave and solar. Given an inherent lack of flexibility of these energy sources it is necessary to explore methods of increasing the flexibility of demand rather than supply. Price based Demand Side Management that reflects pricing in a spot price electricity market offers an incentivised method by which this can be achieved. This analysis investigates the implications of using day-ahead pricing predictions to demand side manage a load with an inherent energy loss due to rescheduling.