Techno-economic feasibility analysis with energy storage and demand response program for the smart home energy management.

In recent years, the demand side micro-grid had a lot of challenges, most of them being the uninterrupted power supply. The effective energy management of residential structures concerning diverse and often conflicting objectives is one of the most challenging problems associated with hybrid renewable energy sources (HREs) generation, an energy storage system (ESS), and electric vehicles (EV). Therefore, an intelligent home energy management system (HEM) is essential with consumers who can change their load according to their comfort with demand response program schemes (DRP). The key contribution is as follows: (1) Home energy management (HEM) through optimal scheduling of home appliances to reduce energy consumption costs with DRP. (2) The net present cost of the HREs has been minimized for the smart HEM appliances. (3) The techno-economic feasibility and optimal energy management analysis of household loads have been analyzed. Grid and without a grid-connected mode of operation of HEM is analyzed. The HOMER, an energy management tool, is used to solve energy management based on RES and ESS in this study. The HEM has considered DRP and RES to reduce the net present cost (NPC) by 21.95% and 5.71%, with grid and without grid-connected, respectively. [ABSTRACT FROM AUTHOR]