Residential power scheduling with renewable energy and storage in a smart grid

Abstract

Nowadays, there is a growing trend of electricity consumers/users installing solar panels and storage batteries in their premises to alleviate rising energy costs. Despite this, ineffective energy management undermines the potential benefits, especially when there are multiple variables and constraints under consideration. To help solve this issue, we introduce in this paper an inclusive mathematical model for devices energy consumption scheduling based on user preferences under Time-of-Use (ToU) pricing, which also combines intelligently multiple inputs (utility, renewable and storage energy). Our approach attempts to distinguish itself by using all these inputs to optimize various outcomes such as cost, Peak-to-Average Ratio (PAR), and user comfort. It also allows consumers to tune their acceptable comfort level, providing them the autonomy and freedom to choose their preferences. We formulate and solve our mathematical model, subsequently simulating it in Matlab. Validation results underscore its efficacy, showing a notable 18.57% decrease in electricity bills through the combination of renewable energy and storage systems. Furthermore, implementing the model across three operational modes with ToU pricing demonstrates a very significant bill reduction of up to 41.57%. Ultimately, our approach, particularly when coupled with ToU pricing (contrasted with flat-rate), provides users with enhanced decision-making capabilities, driving amplified cost savings and comfort levels.