A Comparative Study of Residential Energy Management Systems for Reducing Electricity Costs and Peak Energy Consumption

Distributed and renewable resources have recently emerged to meet the growing energy needs and to advance sustainable development across the globe. However, the sporadic nature of solar energy may affect the stability and energy security of power networks. An optimal control strategy is essential to ensuring the efficiency, reliability, and quality of power delivered. Cost-effective and easy-going integration of renewable resources is accomplished by utilizing an efficient energy management system (EMS). An EMS based on heuristics and optimization strategy has been proposed in this study to provide a sustainable energy solution. In addition to the main utility grid, the supply network of the energy hub includes solar photovoltaics (PV) and battery energy storage systems (BESS) to supply the home loads cost-effectively. The availability of PV and battery state-of-charge (SoC) detects when to use or shut down the main grid. Three realistic schemes have been formulated to evaluate the behavior of the suggested EMS using some real-world datasets. Some performance parameters such as self-sufficiency (SS), self-consumption (SC), and peak-to-average ratio (PAR) have been calculated to validate and confirm the efficacy of the suggested model. Finally, the best EMS approach for reducing residential electricity costs and peak consumption has been determined through a qualitative comparison assessment.