Home Energy Optimization Strategies in Bangladesh to Minimize Electricity Cost and Grid Energy Consumption Using Optimization Algorithm

Due to rapid urbanization and increasing energy use, Bangladesh is facing challenges in ensuring a reliable electricity supply, therefore it makes sensible to use more renewable resources in order to meet the rising energy demand. This research develops an energy management system (EMS) with two different approaches based on the facilities of various types of consumers. One approach uses renewable energy resource (RER) and energy storage system (ESS) with block rate tariff. Based on the state of charge (SOC) of the ESS and the availability of solar energy, this optimization system schedules energy resources, decides when to use or turn off the grid. Then the optimization problem is resolved using Interior-Point method. Another approach is load scheduling based on time-of-use tariff without utilizing of ESS and RER, solved by applying Genetic Algorithm. All of these methods are simulated in MATLAB. The optimization results are compared with the real-time electricity bills to confirm validate the model. It is shown that the simulation result of block rate tariff model using RER and ESS is more effective which reduces electricity costs by 68.97% and usages of grid energy by 75.23% than the load scheduling model.