Abstract
The energy management in new distribution paradigms are amongst one of core research dimension, particularly in smart grids. This paper proposes a hierarchical energy management system for inter-connected multi-smart buildings with an inclusion of local Power Market. As home appliances have huge contribution in load of buildings, the appliances are scheduled in order to minimize operational cost while taking into account the user comfort and other system constraints. The objectives of this paper aim to minimize operational cost, CO 2 emissions, grid dependency while maximize user comfort and revenue. The proposed technique enables a prosumer with two options, either they can sell excess energy to the utility or can bid and sell in market with high price compare to utility. Besides increase in revenue, the consumer is enabled to buy electricity from utility or from local market with low prices compare to utility grid aiming at reducing operational cost. The proposed framework is evaluated across three algorithms namely, JAYA, teacher learning based optimization (TLBO) and Rao1, respectively. As per comparative analysis, the JAYA algorithm outperforms the others in achieving the aimed objectives in-terms of favorable achieved numerical values. Different cases are created in order to test the effectiveness of proposed system. The overall simulation results validate the proposed approach with highest operational cost reduction of 151.48%, peak load reduction 76.76%, grid dependency reduction 95.61%, and minimum emission of CO 2 is 3.70 Kg/Day as compare to base case.