Abstract
The virtual energy storage system (VESS) achieved by using the demand response of thermostatically controlled loads (TCLs) is becoming more popular for smart grid. Demand response of TCLs to provide a cost-effective solution in real-time for the power mismatch due to variable renewable energy generation and avoid extra expenses due to meet the peak demand. To extract energy-saving and lesser cost of electricity, residential consumers perform energy management in accordance with power by grid, renewable generation, energy storage, demand response of TCLs, and electricity price. This requires optimal scheduling of residential consumer demand with manage the energy consumption of TCLs for cost saving. Firstly, mathematical model of TCLs and VESS using TCLs are developed. Then, an optimal scheduling model is developed to minimize the electricity cost of residential consumers. The simulations results show the reduction in the cost of electricity and VESS provides services like conventional energy storage.
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