Optimal Sizing of PV and BESS for a Smart Household Considering Different Price Mechanisms

The study on the sizing of renewable energy generation systems and energy storage systems together in a household considering different price mechanisms can further promote the development of the home energy management system (HEMS). In this paper, a HEMS expressed as a bi-level model is provided to investigated capacity allocation strategy of the photovoltaic (PV) and battery energy storage system (BESS) in a smart household considering: 1) the impact of electricity price mechanisms which include the time-of-use pricing (TOU), the real-time pricing (RTP), and the stepwise power tariff (SPT); 2) the effect of subsidies of PV; and 3) the uncertainty in the PV output and seasonal load profiles. Then, the hybrid approach which combines the cataclysmic genetic algorithm and the DICOPT solver in GAMS is employed to find an optimal solution. Finally, six cases with different price mechanisms and approaches, as well as the sensitivity analysis of optimal solution to subsidies are presented. Results indicate that, with the subsidies, only the PV system needs to be equipped in a household under the SPT, while the PV system and BESS need to be equipped together under the RTP and TOU. Only when the subsidies of PV reach a certain level will the installation of PV be considered.