Combined residential demand side management strategies with coordination and economic analysis

In this paper combined demand side management strategy for residential consumers is studied for five households in South Africa. This study is twofold; the first part proposes an energy management system that combines demand side management strategies with a view of minimizing the consumer’s cost and reducing the power consumption from the grid. Appliance scheduling with a dedicated photovoltaic and storage system under time-of-use tariff shows that customers can realize cost savings and the power demanded from the grid is reduced by optimal scheduling of power sources. In the second part of this study, a model is developed to investigate the joint influence of price and CO2 emissions. It is found that CO2 emissions could give customers an environmental motivation to shift loads during peak hours, as it would enable co-optimization of electricity consumption costs and carbon emissions reductions. It is also demonstrated that the consumer’s preferences on the cost sub-functions of energy, inconvenience and carbon emissions affects the consumption pattern. These results are important for both the consumer and the electricity suppliers, as they illustrate the optimal decisions considered in the presence of trade-offs between multiple objectives. A further study crucial to the consumer on economic analysis of PV and battery system showed that the consumer could recoup their initial investment within 5 years of their investment.