Independent Demand Side Management System Based on Energy Consumption Scheduling by NSGA-II for Futuristic Smart Grid

Best way to optimize the utilisation of resources present in electricity grid is Demand Side Management. Appropriate pricing strategies adopted by the utilities help to decide user level consumption. Electricity pricing helps the user in minimising electricity payment by independently scheduling its appliances usage time and hours in a day. This paper presents a smart grid situation with existence of a single utility and multiple consumers. Here we have considered that the utility adopts time of day pricing strategy. In smart grid, the Demand Side Management is considered to be multi objective optimization problem. For a schedule with efficient energy consumption, the peak to average ratio of total energy demand, the total energy costs and the every user's individual daily electricity charges should be minimised. This paper used NSGA-II, an advance form of genetic algorithm for solving the multi-objective optimization problem in order to obtain an optimum schedule for user's energy consumption. Simulation results confirm that by adopting optimum consumption schedule, peak-to-average ratio of the total energy demand gets reduced and electricity usage charge can also be reduced successfully. Results prove that individual user bill can be reduced upto 15% by adopting the proposed technique, which is a remarkable amount in terms of today's electricity bills.