An optimal home energy management system with integration of renewable energy and energy storage with home to grid capability.

Summary: Residential building consumes a significant amount of energy. To address the issue, these structures have been supplied with renewable energy sources (RES), an energy storage system (ESS), and an electric vehicle (EV). In a home, a home energy management system (HEMS) has been implemented to schedule and regulate domestic appliances. Many studies in HEMS have been conducted in order to reduce the cost of power and the peak to average ratio (PAR). However, there is insufficient use of RES, ESS, EV, and excess domestic energy. As a result, this research presents a HEMS architecture that is integrated with RES and ESS and includes home‐to‐grid (H2G) power flow functionality. The RES electricity is initially utilized to power domestic appliances and charge ESS before being transferred back into the main grid to reap economic rewards. During the low‐price period, the ESS and EV are charged and discharged during the high‐price period. The paper built a multi‐objective optimization problem using the provided approach that integrates electricity cost and system PAR. The grey wolf optimization algorithm is used to tackle the multi‐objective optimization problem. The results clearly show that the proposed technique decreases expenditures by 45.80% and PAR by 28.44%, compared to the baseline timetable in 24 h. The H2G power flow feature allows the home to send back excess energy to the grid, cutting electricity expenditures by 70% and achieving additional economic benefits. [ABSTRACT FROM AUTHOR]