Optimal and Autonomous Incentive-Based Energy Consumption Scheduling Algorithm for Smart Grid

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Executive Summary

In this paper, the authors consider deployment of Energy Consumption Scheduling (ECS) devices in smart meters for autonomous demand side management within a neighborhood, where several buildings share an energy source. The ECS devices are assumed to be built inside smart meters and to be connected to not only the power grid, but also to a local area network which is essential for handling two-way communications in a smart grid infrastructure. They interact automatically by running a distributed algorithm to find the optimal energy consumption schedule for each subscriber, with an aim at reducing the total energy cost as well as the Peak-to-Average-Ratio (PAR) in load demand in the system.

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