A real-time home power resource management method

In this work, a real time Home Power Resource Management system is presented. This system includes grid with time-of-use pricing, photovoltaic panels and storage battery as power resources, and uses a main controller and the developed rule based algorithm to manage these resources for reducing the electricity cost and avoiding high peak demand simultaneously. In the prescribed time intervals, the algorithm is executed and it selects power resource(s) to cater the power demand during the current time interval according to prescribed priorities and without exceeding certain limits on power drawn from the grid. Furthermore, a simulation program implementing the proposed algorithm is developed using software tools Matlab and AgilentVee. Obtained numerical results showed that the algorithm significantly reduces the electricity cost and high peak demand.