DEMAND SIDE MANAGEMENT IN A SMART GRID ENVIRONMENT

Abstract

Smart grid systems use demand side management (DSM). It improves power system dependability, sustainability, and efficiency. Utility companies use DSM to cut system capacity demand and save costs. Electricity providers use various pricing and incentive strategies to encourage residential consumers to engage in DSM load shifting programs. This maximizes earnings and reduces costs. The utility companies' DSM initiatives aim to reduce their systems' excessive energy consumption. DSM-participating residential consumers can also expect lower energy bills. Modern lifestyles and gadgets are increasing household energy needs at an alarming rate. To satisfy the nation's expanding electricity consumption and reduce emissions, sustainable on-site power generation is essential. Because of this, on-site renewable energy resources (RERs) are getting more attention than ever. Discontinuous RERs provide additional obstacle to operational management. Hence, RER energy utilisation requires effective energy management systems like DSM. DSM's intelligent implementation benefits utilities, consumers, and all of SG's stakeholders, who get many other benefits.