Efficient real-time residential energy management through MILP based rolling horizon optimization

In this paper, a Mixed Integer Linear Programming (MILP) based rolling optimization approach under real time pricing (RTP) policy is introduced to efficiently manage energy consumption of a smart home equipped with a Battery Energy Storage System (BESS) and a solar PV system. Models of distributed energy resources (DERs) in a smart house are developed and accordingly optimal management of total energy consumption is formulated as a MILP problem, which is then solved by the MOSEK software platform. And a rolling optimization scheduling framework based on MILP is proposed to dispatch DERs within a smart home to minimize the expenditure under RTP policy. Case studies are conducted to validate the performance of the algorithm. It is observed that proposed algorithm could benefit both smart house owners and network operators technically and economically in the context of smart grid.