Residential electricity cost minimization model through open well-pico turbine pumped storage system

A residential electricity cost minimization model is proposed which can be implemented in a suburban setup where open wells are present for domestic needs. Here, a solar photo voltaic (SPV) system with pico hydro turbines (PHTs) and pump are used for minimizing the monthly electricity bill in a dynamic electricity pricing environment. Also, the available water in the open well is optimally used in order to minimize the residential electricity cost. In situations when either the price of the energy from the grid is low or when the available energy from the SPV system is in excess of the demand, the proposed model stores the energy in the form of gravitational potential energy of water in a reservoir. The stored energy is then retrieved using PHTs which feeds the load at the time when the energy price is high. The depth of the well is used as the working head for the operation of turbines and are optimally scheduled in order to minimize the water flow rate (WFR). The two fold objectives, i.e., minimizing the electricity cost and minimizing the WFR, is converted into a single objective function and is solved using particle swarm optimization (PSO). The payback period for the proposed system, if implemented, is also investigated as a case study in India.