Abstract
The implementation of proper energy management techniques and utilization of renewable energy resources enhance the energy efficiency and stability of future grid systems. This research proposed a home energy management model consisting of microgrid framework and demand side management (DSM) technique. To reduce peak load, peak to average, and energy cost, households’ loads were shifted on the basis of price-based tariff such as flexible and time of use tariff. Simulation was carried out using binary particle swarm optimization algorithm in MATLAB. The microgrid was mathematically modeled, and the impacts of DSM integrated microgrid were analysed for different households in terms of electricity cost reduction. Simulations suggested that DSM implementation significantly reduced peak loads and renewable resources produced trade-off. Renewable energy integration with DSM can be a promising approach for the significant reduction in total electricity cost of households by paying less for purchasing electricity and selling the surplus electricity to the grid.
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