TY - GEN
T1 - Optimization of energy expenditure in smart homes under time-of-use pricing
AU - Longe, Omowunmi Mary
AU - Ouahada, Khmaies
AU - Rimer, Suvendi
AU - Ferreira, Hendrik C.
N1 - Publisher Copyright:
© 2015 IEEE.
PY - 2016/1/19
Y1 - 2016/1/19
N2 - Growing peak demand has necessitated the introduction of Time-of-Use (TOU) pricing to Demand Side Management (DSM) in order to cause some peak demand to be shifted from peak to off-peak periods. Therefore, in this work, a Daily Maximum Energy Scheduling (DMES) - DSM technique is proposed. The DMES-DSM device is proposed to be installed into consumers' smart meters and schedule energy consumption for smart appliances. The DMES-DSM technique was verified with real household data and shown to be capable of optimizing households' monthly energy expenditure below approved national energy expenditure threshold and also offer Peak Demand Reduction (PDR). It offered the household considered an average monthly financial savings of 22.44% and 36.73% in summer and winter respectively on electricity bills. Utility can also benefit from the PDR for grid stability and sustainability. Also, the optimized consumption pattern differs only slightly from initial consumption pattern for enhanced consumer satisfaction.
AB - Growing peak demand has necessitated the introduction of Time-of-Use (TOU) pricing to Demand Side Management (DSM) in order to cause some peak demand to be shifted from peak to off-peak periods. Therefore, in this work, a Daily Maximum Energy Scheduling (DMES) - DSM technique is proposed. The DMES-DSM device is proposed to be installed into consumers' smart meters and schedule energy consumption for smart appliances. The DMES-DSM technique was verified with real household data and shown to be capable of optimizing households' monthly energy expenditure below approved national energy expenditure threshold and also offer Peak Demand Reduction (PDR). It offered the household considered an average monthly financial savings of 22.44% and 36.73% in summer and winter respectively on electricity bills. Utility can also benefit from the PDR for grid stability and sustainability. Also, the optimized consumption pattern differs only slightly from initial consumption pattern for enhanced consumer satisfaction.
KW - Daily Maximum Energy Scheduling (DMES)
KW - Demand Side Management (DSM)
KW - Household income
KW - Smart appliances
KW - Time-of-Use (TOU)
UR - http://www.scopus.com/inward/record.url?scp=84964922340&partnerID=8YFLogxK
U2 - 10.1109/ISGT-Asia.2015.7386988
DO - 10.1109/ISGT-Asia.2015.7386988
M3 - Conference contribution
AN - SCOPUS:84964922340
T3 - Proceedings of the 2015 IEEE Innovative Smart Grid Technologies - Asia, ISGT ASIA 2015
BT - Proceedings of the 2015 IEEE Innovative Smart Grid Technologies - Asia, ISGT ASIA 2015
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - IEEE Innovative Smart Grid Technologies - Asia, ISGT ASIA 2015
Y2 - 3 November 2015 through 6 November 2015
ER -