Exploiting day-ahead electricity price for maximized profit of photovoltaic systems

This paper proposes a methodology for optimal power management in a house with photovoltaic cells and battery storage. The proposed method exploits the day-ahead electricity market to enhance the profit of a household. An hourly-discretized optimization algorithm is proposed to identify the optimum daily operational strategy to be followed by the photovoltaic system, provided that a forecast for solar-power and load is available. This model is suitable to be applied in the real time operation of a typical house. The proposed strategy maximizes the individual revenue without shifting power demand. We explored the proposed algorithm with and without feed-in tariff. The results show that a typical house can save about 300 e/year when applying optimized power management.