TL;DR
This paper proposes a decentralized mechanism using social capital to incentivize household agents to exchange time-slots for appliance use, promoting load balancing and renewable energy utilization.
Contribution
It introduces a social capital-based mechanism that encourages flexible appliance scheduling, outperforming traditional pricing approaches in promoting social behavior.
Findings
Social capital tracking increases agent satisfaction.
Favours give agents a competitive advantage.
Self-interested agents learn socially beneficial behavior.
Abstract
Reducing the peak energy consumption of households is essential for the effective use of renewable energy sources, in order to ensure that as much household demand as possible can be met by renewable sources. This entails spreading out the use of high-powered appliances such as dishwashers and washing machines throughout the day. Traditional approaches to this problem have relied on differential pricing set by a centralised utility company. But this mechanism has not been effective in promoting widespread shifting of appliance usage. Here we consider an alternative decentralised mechanism, where agents receive an initial allocation of time-slots to use their appliances and can then exchange these with other agents. If agents are willing to be more flexible in the exchanges they accept, then overall satisfaction, in terms of the percentage of agents time-slot preferences that are…
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