Optimized Energy Management Strategy for Home and Office
In smart grid, Demand Side Management (DSM) plays a vital role in dealing with consumer’s demand and making communication efficient. DSM not only reduces electricity cost but also increases the stability of the grid. In this regard, we introduce an energy management system model for a home and office, then propose efficient scheduling techniques for power usage in both. This system schedule the appliances on the basis of four different optimization techniques to achieve objectives that are electricity cost minimization, reduction in Peak to Average Ratio and energy consumption management. Moreover, we use Real Time Pricing because it is highly flexible and provides an understanding to consumer about price signal variations. Simulation results show that the proposed model for energy management work efficiently to achieve the objectives and provide cost-effective solution to increase the stability of smart grid.
KeywordsEnergy management system Real time pricing Smart grid Demand response Appliances Optimization techniques
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