Simulation of a Smart Home Energy Management System with Dynamic Price Response

With the continuing development of the smart grid combined with the fluctuating nature of the electricity market, the development of demand-side management with controllable loads have been greatly emphasized. Due to the large amount of household loads in the residential sector, managing the energy usage of individual homes has received much interest. This paper presents a simulation of a previously proposed hardware design of a smart home energy management system (SHEMS). The report will focus on the data collection and processing functions of the proposed design and will implement them onto standard household loads, such as the electric water heater and the electric vehicle charging station. Overall, we found that the simulation of the loads saves consumers a significant amount of money when a SHEMS is implemented.