A modular high-resolution demand-side management model to quantify benefits of demand-flexibility in the residential sector.

• A modular demand-side management model including all important aspects of end-use. • Quantifying benefits of demand-flexibility for consumers in the residential sector. • Scenarios of full electrification of heating/cooling in the residential sector. • Benefits of flexibility if integrated in the retailing operations of utilities. • Policy recommendations towards a power sector based on decentralized generation. Increasing shares of renewable energy sources and managing total demand are considered pivotal for energy transitions that fundamentally re-envisage the electricity system. A key challenge of such transitions is integrating and absorbing increased shares of non-dispatchable renewable energy sources, without jeopardizing the security and the reliability of the electricity system. To this end, key solutions include the introduction of demand-side management. However, so far, demand-side management modeling at the building sector has been proven challenging, as existing models are not flexible enough to incorporate a wide set of modeling features and guiding principles, while including all important aspects of end-use. This paper presents a new dynamic high-resolution demand-side management model which brings together all the key features and guiding principles of demand-side management modeling. The novelty of the model lies mainly in its modularity, as the main modeling framework is decomposed into individual modules, hierarchically dependent on components embodying standards and design rules, allowing for multiple configurations and computational efficiency. To demonstrate its applicability the model was used to explore benefits of demand-flexibility for consumers in the residential sector in Greece. Simulation results showed that the flexibility to increase self-consumption can be brought to the Greek electricity sector without a need for significant changes in the current market design, and for consumers to sacrifice thermal comfort and energy services. [ABSTRACT FROM AUTHOR]