Modeling and optimization of Demand side Management in Smart Grid

The current research work proposes an integrated framework for home energy management, which includes load scheduling based on different tariff rate and fulfilling the scheduled demand from renewables. The microgrid was mathematically modeled and the household loads were scheduled based on flexible pricing and time of use pricing tariff employing binary particle swarm optimization algorithm in MATLAB. The integrated impacts of DSM and microgrid were analysed for different households in terms of electricity cost reduction and the analyses suggested a significant reduction of total electricity cost by paying less for purchasing electricity and selling the surplus electricity to the grid.