AbstractWith the advancement of smart grid technology, the consumers get the opportunity to participate in various demand response (DR) programs. They can reduce their electricity bill by participating in DR programs. Along with the consumers, the power utility companies also get benefits due to the reduction in high energy peaks on the demand curve. In this paper, we propose an energy scheduling model for the scheduling of smart appliances at home. For the scheduling of appliances, two different dynamic pricing schemes are selected, i) time of use scheme, ii) real time pricing scheme. Along with this, a small renewable energy source in form of rooftop photovoltaic panels is also included to analyse its effect on energy scheduling solution. Finally, the scheduling problem is solved by mixed integer linear programming (MILP) technique. The CPLEX solver of GAMS software is used to apply MILP technique. A case study by considering different cases is done to analyse the effectiveness of formulated model and selected solution approach for the scheduling of the appliances. The simulation results by considering both the pricing schemes have been achieved and compared to get the better idea of the pricing schemes on the energy scheduling results.
Dynamic Pricing Mechanism With the Integration of Renewable Energy Source in Smart Grid