Assessing the Economic and Environmental Benefits of Residential Demand Response: A Finnish case study

Abstract

The residential sector has been known to have a few flexible loads and the current utilization of demand response within the residential sector is minuscule, with a major limitation being low economic incentives for consumers, and possible lack of information related to potential benefits. This paper focuses on the economical and environmental benefits of Finnish residential demand response and provides an analysis of the effects of different demand response programs and user decisions on the considered economic and environmental indicators. The results from this paper can provide the necessary information for consumers regarding different demand response strategies and their potential trade-offs, so they can make an informed decision in the future regarding demand response.