Techno-Economic Study of Grid-Integrated Solar Residential Energy Management (REM) System

Background- Solar energy is an increasingly popular renewable energy source, thanks to the decreasing cost of solar panels, especially photovoltaic (PV) panels. Numerous nations offer financial incentives to promote the adoption of solar energy, including tax credits and fabrication incentives. Solar photovoltaic (PV) systems can operate independently or in conjunction with the electrical grid. Methods- Analysis is then performed to test the effectiveness of the projected REM procedure in minimizing maximum requirement while maintaining customer comfort. The objective of the REM algorithm is to reduce the number of appliances that are turned off in order to minimize demand. Results- The survey outcomes are crucial for generating load profiles for an entire year. Concluding Remarks-This research provides information on smart homes' components required for solar PV systems. It also conducts a cost analysis of installation, maintenance, and operational costs to evaluate the proposed configuration. The results validate the efficacy of the proposed approach.