A Model for Optimizing Cost of Energy and Dissatisfaction for Household Consumers in Smart Home
A lot of research is being done to implement demand-side energy management for the consumers in order to reduce their peak hour power consumption which may result in a stable grid system and reduced daily electricity bill. Reduction in peak hour usage reduces the pressure on the power grid leading to an efficient and robust grid system which ensures the availability of electricity even during critical hours. However, in the process of minimizing the peak hour consumption, the consumer may experience some dissatisfaction. In this work, an effective demand-side energy management technique has been designed which not only finds an optimal time schedule for the user’s appliances to lower the peak hour consumption and daily electricity bill but also tries to minimize the user’s dissatisfaction that occurs as a result of cost minimization when an appliance is not operated at the user’s preferred time.
KeywordsDSM Smart grid Time-varying prices
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