Two-Stage Approach for Demand Side Management in Multi-Smart Grids

Abstract

In the face of escalating electricity demand driven by technological advancements and a growing population, efficient management becomes imperative. This study explores demand-side management (DSM) within smart grids (SGs) to minimize customer bills, alleviate peak loads, and mitigate losses. The research employs diverse strategies and compares their effectiveness, focusing on optimal load consumption across smart microgrids. Key contributions include a DSM strategy for cost reduction, efficient peak load reduction, and active power loss minimization in smart microgrids. The proposed approach is validated through simulations, with results contributing to real-world SG implementation. The study highlights a 23.4% and 31.6% cost saving for residential and commercial customers, respectively, and emphasizes the significance of load management in enhancing operational efficiency and cost-effectiveness within the energy hub framework. The research provides valuable insights for developing advanced consumption management strategies, ensuring energy efficiency and sustainability in future power systems.