Demand Side Residential Load Management System for Minimizing Energy Consumption Cost and Reducing Peak Demand in Smart Grid
The need for higher energy efficiency and demand response program reshape existing electrical networks which results in the smart power systems grid. Modern electrical networks are also becoming more careful than ever to keep the greenhouse gas emission under acceptable limits. Demand side residential load scheduling promotes smart grid consumers to change their electricity consumption responding to electricity price variations. In this paper, a system has been designed for efficient demand side management in the smart grid. This research mainly focuses on optimal load scheduling for minimizing energy costs and reducing peak loads. The demand response technique uses specifically to perform load scheduling optimization to minimize the total cost of power consumption of residential household loads while maintaining the expected satisfaction. A detailed load scheduling model has been developed for enabling the Home energy management system (HEMS) to compute optimized power consumption while incorporating customers' satisfaction and dynamic price variation. The results showed the proposed dynamic pricing based HEMS significantly reduces 38.80% of peak loads and minimizing 22.55% of total energy costs for customers.
2020 2nd International Conference on Advanced Information and Communication Technology (ICAICT)