Dynamic pricing-driven load optimization in islanded microgrid for home energy management systems

In order to maximize residential energy use and reduce electricity costs, home energy management systems (HEMS), are crucial. A distinct dynamic pricing-driven load optimization technique for HEMS running in islanded mode where grid access is either limited or nonexistent is presented in this paper. Incorporating important distributed energy resources like photovoltaic (PV) systems, electric vehicles (EVs), battery energy storage systems (BESS), and limited grid access, the optimal schedule is also used for real-time dynamic pricing analysis. A planned short-duration outage and a full 24-hour islanding scenario are the two different outage scenarios that are assessed. In short-duration outages, grid dependency decreases to roughly 10% in the spring and approximately 50% in the summer and winter, according to a thorough seasonal analysis conducted in the spring, summer, and winter. The suggested approach guarantees total self-sufficiency in the 24-hour outage scenario, with local resources satisfying load demands in full.