A Novel Energy Efficient Approach for Smart Homes Using Real Time Pricing Techniques

This paper proposes a novel approach to energy management system for the demand in power and time sharing scheme for usage in power and reduces the usage of electricity expenses and wastage of energy under power shutdown. It presents the advanced architecture in a home network based on energy management system using smart grid technology. The method of measuring the residence power usage was proposed along with it. The main purpose of the paper reveals the support on customer to reduce the power usage upon cutoff hours and demand periods probably during night hours and the closing stages of that particular month. Hence the real time pricing model was proposed to reduce the usage of power on demand time along the cutoff hours. It achieves the most efficient way of utilizing the appliances in the home management system. The proposed system minimizes the energy usage and reduces the cost with less labor power.