Intelligent Energy Management System to Reduce Total Electricity Charge in Consumer Perspective

Abstract

Under the penetration of photovoltaic generator on the consumer side, accurate prediction on the amount of generation has become critical to stabilizing the power management on both provider and consumer sides. To stably utilize photo-voltaic generation, we propose a mechanism that intelligently manages the energy operation with an energy storage system. The proposed mechanism considers the prediction uncertainty in forecasting the amount of generation and utilizes the forecast results in the energy operation management to reduce the electricity charge on the consumer side. The simulation results under the electricity charging system in Republic of Korea shows that the proposed mechanism achieves more than 20% enhancement in prediction accuracy compared to the existing mechanisms and earns $95 of monetary profit.