Modeling and Optimization of the Smart Grid Ecosystem

The aim of the smart electric energy grid is to improve efficiency, flexibility, and stability of the electric energy generation and distribution system, with the ultimate goal being the added value of energy-related services to the end-consumer and to facilitate energy generation and prudent consumption toward energy efficiency. New technologies, such as networks and sensors, are combined with consumer behaviour to create a complex eco-system in which many factors interact. Modeling and Optimization of the Smart Grid Ecosystem gives some structure to the complex ecosystem and surveys key research problems that have shaped the area. The emphasis is on the presentation of the control and optimization methodology used in approaching each of these problems. This methodology spans convex and linear optimization theory, game theory, and stochastic optimization. Modeling and Optimization of the Smart Grid Ecosystem serves as a reference for researchers wishing to understand the fundamental principles and research problems underpinning the smart grid ecosystem, and the main mathematical tools used to model and analyze such systems.