Optimal residential load scheduling under dynamic pricing and demand-side management

Abstract

Balancing electricity consumption and generation in the residential market is essential for power grids. The imbalance of power scheduling between energy supply and demand would definitely increase costs to both the energy provider and customer. This paper proposes a control function to normalize the peak cost and customer discomfort. In this work, we modify an optimization power scheduling scheme by using the inclined-block rate (IBR) and real-time price (RTP) technique to achieve a desired trade-off between electricity payment and consumer discomfort level. For discomfort, an average time delay between peak and off-peak is proposed to minimize waiting time. The simulation results present our model more practical and realistic with respect to the consumption constrained at peak hours.