This is a Matlab project which uses a cost saving algorithm. It yields a reduced cost, for per day electricity consumption (kWh), for the consumer, by implementing load shifting and thereby flattens the load curve of the grid. Dynamic pricing for consumption is considered.
The per hour consumption of different appliances of the consumer is given as input in a matrix. The appliances are separated into two categories: Shiftable and Non-Shiftable. In case of use of shiftable appliance during peak hours, when per unit cost of consumption is higher, the use of said appliance is switched to an off-peak hour.
Note: The consumer has the choice to use any appliance during any hour if they wish to. The algorithm can be set according to the need of the consumer.
This is a sample output for an arbitrary consumer for demonstration purposes.
The algorithm results in over 25% savings of per-day cost of consumption for the consumer.
Per-day cost before algorithm (in Rupees): 268.345
Per-day cost after algorithm (in Rupees): 196.385
Percent Saving: 26.8162%