Federating Solar, Storage And Communications In The Electric Grid And Internet Of Things

A futuristic infrastructure model is envisioned with distributed modules that can produce solar energy, have a storage system and provide services of lighting, electric-vehicle charging and communications. A stochastic model is formulated for the solar power production and overall consumption of power. Resource allocation in such a system translates to taking decisions in a foresighted manner while maximizing a social surplus with the goal of serving all power demands optimally. A stochastic dynamic programming approach is formulated for the same and a myopic policy is illustrated while discussing the trade-offs between serving competing demands.