Demand Side Management in Residential Smart grid using Osprey Optimization Algorithm

Modern customers' changing lifestyles are contributing to a sharp rise in energy demand recently, which brings more strain on the electrical grid. Inadequate generation causes unscheduled load shedding results from the imbalance between load demand and generation. The smart grid is one of the alternative choices to revolutionize conventional power systems. Demand Side Management (DSM) is an effective and crucial instrument in the smart grid energy management system to lower total power demand during peak demand periods, improving grid sustainability, and lowering overall cost. In this paper a load scheduling-based DSM technique has been implicated in residential smart grid, which is formulated as a minimization problem. This problem is further solved by using Osprey Optimization Algorithm (OOA) to achieve lower peak load and reduced cost of operation in residential smart grid. The results obtained by using the OOA algorithm show that there is significant reduction in peak load as well as cost of operation by up to 11.55% and 6.69% respectively.