Financial Engineering
E-ISSN: 2945-1140
Volume 2, 2024
Analyzing the Residential Electricity Consumption Under Varying Seasonal and Weather Conditions
Authors: , , ,
Abstract: This article analyses the effects of seasonal variations and weather effects on the electricity consumption of residential consumers. To optimize energy usage, precise load profile forecasts are critical, and Demand Side Management
(DSM) is a key strategy. DSM reduces the cost of energy acquisition and the associated penalties by continuously monitoring energy use and managing appliance schedules. The proposed approach utilizes DSM-assisted agent-based modeling to anticipate electricity usage patterns for 300 households. It also models inductive and non-inductive loads
separately and selects specific loads to operate at specific times. This research work investigates the impact of climate on residential electricity usage, including air conditioning and heating demands and overall power consumption. Results are compared with a similar study to validate our approach.
Search Articles
Pages: 220-226
DOI: 10.37394/232032.2024.2.20