Analysis of the Potential Benefits from Participation in Explicit and Implicit Demand Response

In this paper, a Monte Carlo scenario-based model is utilized in analyzing the economic feasibility of participation in demand response (DR) from the perspective of a flexible consumption asset owner. Furthermore, the impact of implicit DR on the ability to provide explicit DR is assessed. Case study based on smart electric thermal storage heaters allows to conclude that implicit DR does not necessarily hinder the ability for system services provision. Instead, it adds a supplemental benefit to the asset owner.