Project Overview

A fundamental challenge in electricity markets is the need to balance supply and demand at every instant. While there has historically been a focus on the generation sector, there is increasing interest in leveraging the demand-side of the industry. However, households have remained unresponsive to financial incentives to adjust the timing of their electricity demand. Our research project combines emerging technology with insights from economics to enhance customer’s demand-side flexibility. Working with our industry partner, Optiwatt, we will evaluate the potential role for the automation of smart thermostats and electric vehicles to enhance demand-side flexibility, with a particular focus on better understanding consumers' willingness to accept these types of programs. Our findings have considerable potential to reduce the cost of electricity, as well as improve system reliability.