Design of an energy management scheme for residential demand response in a microgrid system

Abstract

The fluctuating prices of fossil fuels coupled with other technical and economic limitations have compelled the utilities to use renewable energy technologies (RETs) for power generation. In view of this, the physical accessibility of solar and wind resources has encouraged the application of RETs in the microgrid (MG) systems. The feasibility assessment of a MG system is investigated in this work with the aim of promoting the photovoltaic (PV), wind turbine (WT) and battery storage system (BSS) for power generation application in a standalone MG system. The optimal configuration of a MG system is achieved with the application of an fmincon optimization function. The research work is carried out by using a typical load profile of low-medium sized residential buildings in Cape Town, South Africa. This study is designed to evaluate the technical and financial viability of a MG system. This leads to the minimization of the net present cost (NPC) and cost of energy (COE) as well as the maximization of cost of net energy purchased, benefit and benefit-cost ratio (BCR). It can be established from the outcomes of the study that green technologies are the cost-effective means of accomplishing sustainable energy goal.