Abstract
The state of the art of old-age grids into smart grids provides residents the opportunity to schedule their appliances to consume the energy optimally that leads to potentially balance the demand side as well as the supply side more effectively and minimizes the power Peak-to-Average Ratio (PAR), which ultimately provides benefit to the residents in the form of reduction cost and expense. The Energy Management System (EMS) in the home receives the market and system signals and controls the loads, Heating, Ventilation and Air Conditioning systems (HVAC), storages and local generation units according to the user preferences. This survey encompasses novel home energy management techniques including different shift able and non-shift able load scheduling methods and peak shaving strategies. Several Pricing strategies have been suggested for smart grid such as, Real-Time Pricing (RTP), Time of Use (ToU), Inclining Block Rates (IBR), Critical Peak Pricing (CPP), etc. Moreover, this paper discusses the HEM architecture and reveals that the different energy management techniques intelligently schedule the appliances in order to satisfy the maximum resident's comfort level and consume the energy optimally.