REDUCTION OF ELECTRICITY BILL WITH STAND-ALONE SOLAR PV SYSTEM

Energy demand is continuously increasing and to manage it with the financial incentives and behavioral change through education is called as Demand Side Management. The main aim of Demand Side Management (DSM) is to encourage the consumer to minimize the energy usage during the peak hours or to shift the time of energy use to off-peak duration. Peak demand management reduces the plant capacity. There is one more way to perform the energy demand management at residential stage using renewable energy sources such as solar photovoltaic (PV) power or wind energy. In this paper DSM is carried out using solar PV and energy storage system for managing the electricity charges corresponding consumption of units.