Abstract:
We explore the degree to which smart-thermostats can help shift electricity consumption to align with time-varying prices. We partnered with ecobee, a smart thermostat company, to randomly encourage households to enroll in eco+, a suite of algorithmic thermostat features including a feature that automates responsiveness to TOU-pricing to decrease energy consumption during high-price periods without disrupting household comfort. Using 5-minute interval data on HVAC compressor run-times, observed indoor temperatures, and thermostat settings, we construct a measure of “discomfort” and show how automated TOU-responsiveness balances comfort with energy usage and energy bill savings. Preliminary results show that automated TOU-responsiveness reduces customer bills and aggregate energy usage but decreases in-home comfort when prices are highest. We find that many people disable or override the eco+ feature, which weakens the effectiveness of TOU pricing substantially. We take this as evidence that not all consumers find the eco+ features beneficial, limiting the policy effectiveness of implementing automated energy policy at scale.
Faculty Workshop·Feb 25, 2020
Casey Wichman, UChicago
- Date and Time: –