This is problem statement of Inter IIT tech meet 2018.
Consider a scenario of a gated community with many buildings requiring electricity and a solar panel plant installed along with a battery. The community decides to participate in the electricity bidding market in their region. The community also has the option of drawing from a distribution company (DISCOM) at a fixed per unit (KWh) cost. So there are four sources from which the demand can be fulfilled viz. solar plant, battery, electricity market and DISCOM.
For the above defined scenario, formulate and develop an algorithm to solve the optimization problem with an objective to minimize the daily electricity bill of the community as a whole. The bid quantities and bid prices for each of the blocks are the decision variables of the optimization problem.
Since bidding happens a day ahead, the actual electricity demand of the community and the actual output of the solar plant are not known exactly. So a forecast of these quantities for each of the blocks is given by an oracle at the time of bidding. A forecast of the most probable market price for each of the blocks is given by the oracle at the time of bidding.
Complet problem statement: https://github.com/surya-veer/Optimal_Bidding/blob/master/Problem%20Statement/Optimal_Bidding.pdf
- scikit learn
- Matplotlib
- Pandas
- Numpy
- Statemodels
- Ankit Gaur (ankit-gaur)
- Aditya Jain (FireWithin)
- Suryaveer (surya-veer)