According to some utility schedules, the electricity rate is variable such that homes may be encouraged to buy and store power in a battery when it is inexpensive, and self-consume or sell to the grid during other times. Power arbitrage through a battery energy storage (BES), can help maintain consumer comfort and minimize residential electricity bills. This paper reports the calculated daily energy costs incurred by different types of homes for a given utility electricity rate schedule. The homes exchange power among each other behind a section of the distribution network. A free market system is formed and the electricity rate is a function of time, depending on the instantaneous supply and demand of power. A real time control for the BES based on its state of charge, residential power demand, and electricity rate is proposed. Relative savings in homes are achieved through rooftop solar photovoltaic systems, or BES, or both. It is shown that all types of houses benefit from the transactive power flow.
Digital Object Identifier (DOI)
The support of University of Kentucky, the L. Stanley Pigman endowment, and Power and Energy Institute of Kentucky (PEIK) is gratefully acknowledged.
Gong, Huangjie; Akeyo, Oluwaseun M.; Rallabandi, Vandana; and Ionel, Dan M., "Real Time Operation of Smart Homes with PV and Battery Systems under Variable Electricity Rate Schedules and Transactive Power Flow" (2018). Power and Energy Institute of Kentucky Faculty Publications. 31.