An efficient home energy management and power trading in smart grid

Abstract

In this work, we propose a DSM scheme for electricity expenses and peak to average ratio (PAR) reduction using two well-known heuristic approaches: the cuckoo search algorithm (CSA) and strawberry algorithm (SA). In our proposed scheme, a smart home decides to buy or sell electricity from/to the commercial grid for minimizing electricity costs and PAR with earning maximization. It makes a decision on the basis of electricity prices, demand and generation from its own microgrid. The microgrid consists of a wind turbine and solar panel. Electricity generation from the solar panel and wind turbine is intermittent in nature. Therefore, an energy storage system (ESS) is also considered for stable and reliable power system operation. We test our proposed scheme on a set of different case studies. The simulation results affirm our proposed scheme in terms of electricity cost and PAR reduction with profit maximization.