{"type":"ScholarlyArticle","title":"Optimal Prosumer Decision-Making Using Factored MDPs","authors":[{"name":"Angelos Angelidakis","slug":"angelos-angelidakis","given":"Angelos","family":"Angelidakis","affiliation":""},{"name":"Georgios Chalkiadakis","slug":"georgios-chalkiadakis","given":"Georgios","family":"Chalkiadakis","affiliation":""}],"abstract":"Tackling the decision-making problem faced by a prosumer (i.e., a producer that is simultaneously a consumer) when selling and buying energy in the emerging smart electricity grid, is of utmost importance for the economic profitability of such a business entity. In this work, we model, for the first time, this problem as a factored Markov Decision Process. By so doing, we are able to rep-resent the problem compactly, and provide an ex-act optimal solution via dynamic programming — notwithstanding its large size. Our model success-fully captures the main aspects of the business decisions of a prosumer corresponding to a community microgrid of any size. Moreover, it includes appropriate sub-models for prosumer production and consumption prediction. Experimental simulations verify the effectiveness of our approach; and show that our exact value iteration solution matches that of a state-of-the-art method for stochastic planning in very large environments, while outperforming it in terms of computation time.","doi":null,"url":"https://ijcai.org/proceedings/2016/612","pdf":"https://ijcai.org/proceedings/2016/0612.pdf","markdown":"https://ijcai.org/proceedings/2016/612.md","bibtex":"https://ijcai.org/proceedings/2016/bibtex/612","volume":{"slug":"2016","title":"Proceedings of the Twenty-Fifth International Joint Conference on Artificial Intelligence","short_title":"IJCAI 2016","url":"https://ijcai.org/proceedings/2016/","year":2016,"location":"New York, NY, USA","dates":"9–15 July 2016","editors":"Subbarao Kambhampati","isbn":"978-1-57735-770-4; 978-1-57735-771-1","publisher":"AAAI Press / International Joint Conferences on Artificial Intelligence","doi_prefix":""},"section":null,"track":"","number":612,"pages":{"first":4110,"last":4113},"keywords":[],"videos":[],"references":[],"license_note":"Copyright International Joint Conferences on Artificial Intelligence."}