Autonomous residential load scheduling based on price prediction

Abstract

The purpose of the report is to describe the design and analysis of an optimal and autonomous residential load scheduling scheme. The traditional power grid has advanced to a smart grid whereby technologies are involved. As compared to common flat rates, the price of electricity varies with time in the open electricity market. The energy consumption of residential appliances can be optimised which in turn reduce its cost of energy consumption. Hence, research on smart grid, smart grid communication network, demand side management, demand response, electricity tariff in Singapore, electricity price prediction models and factors that affect electricity price prediction is required to provide a better understanding about time-varying electricity prices. As a result, an optimal residential load scheduling scheme has been designed and studied. Ultimately, this optimal and autonomous residential load scheduling scheme will reduce a household’s electricity bill.