ABSTRACT
Electricity consumption has grown exponentially throughout the world. Therefore, the optimal utilization of energy resources has recently acquired centre stage. Demand side management (DSM) has become pivotal in improving the energy efficiency of the power grid and maintaining its reliability. The load curve is reshaped with the DSM techniques, and also the total cost of electricity consumption is reduced. Owing to the importance of DSM in the present-day scenario, the chapter proposes to minimize the electrical cost of a residential community. Three cases have been reported for the purpose of comparison: normal load without DSM strategy in place; with DSM strategy; and DSM strategy with solar PV generation. The observations reveal that it is not possible to reduce the power consumption, however it is always feasible to shift the loads to cheaper pricing hours. The DSM strategy has been implemented using the velocity-based artificial bee colony (VABC) algorithm. Effectiveness of the load management strategy is truly reflected in the results.
