A Novel Time-of-Use Pricing Based Energy Management System for Smart Home Appliances: Cost-Effective Method

Abstract

Smart grids (SG) allow users to plan and control device usage patterns optimally, thereby minimizing power costs, peak-to-average ratios (PAR), and peak load demands. The present study develops a typical framework of a home energy management system (HEMS) for SG scenarios using newly limited and multi-limited planning approaches for domestic users. Time-of-use pricing (TOUP) is used to develop, handle, and manage the optimization problem properly. As a capable method for optimizing the proposed problem, this paper uses a robust meta-heuristic algorithm named wind-driven optimization algorithm (WDOA) and compares it to the other optimization algorithms in order to demonstrate its efficiency. In addition, it integrates a rooftop photovoltaic (PV) system with the system in order to show that all devices are cost-effective if managed properly. Eight diverse case studies are analyzed using a variety of time planning algorithms. The simulation results advocate for the quality and high performance of the proposed model by minimizing the total cost and managing energy consumption economically.