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In particular, the paper analyses the optimal configuration of built environment area, PV area, wind turbines number and relative occupation area, battery and water harvester storage capacities, as a function of electricity and water prices.
"For companies like Facebook and Google, the P&L is a function of electricity cost," Gopi said.
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The cost of a thermal power plant is a function of the electricity generated from the non-renewable sources.
In [8], for example, an algorithm is suggested to solve the optimal hourly CHP operation as a function of the electricity price and in [9] a deterministic model is suggested to minimize the CHP operation costs when selling the power to the day ahead market.
Furthermore, the electricity usage of curtailable appliance (c in C_{k}) of each customer (k in {mathcal{K}}) at each hour (h in {mathcal{H}}_{k,c}) is modelled as a linear function of electricity price: (f_{k,c} left( {p_{h} } right) = a_{k,c} p_{h} + b_{k,c}).
Thus, it can be assumed that the electricity price is a function of the total electricity generated by the renewable and non-renewable sources.
Thus, our model explicitly considers that the electricity demand which is function of electricity prices is known by power plants with a level of uncertainty.
The cost of renewable power plant is function of electricity generated from renewable sources.
Given that the ability to meet the power demand is crucial in this kind of applications, the plant performances are assessed following an optimal control strategy, as a function of different energy demand profiles and electricity prices, and of rated and part load efficiencies of each energy converter.
This means that while the consumption of wood, charcoal and kerosene is a function of their individual prices, LPG and electricity consumption is independent of price.
In general, electricity pricing is a function of three groups of factors: organizational factors, customer factors, and market factors.
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