A Multi-Objective Optimization Approach towards a Proposed Smart Apartment with Demand-Response in Japan

In Japan, residents of apartments are generally contracted to receive low voltage electricity from electric utilities. In recent years, there has been an increasing number of high voltage batch power receiving contracts for condominiums. In this research, a high voltage batch receiving contractor introduces a demand-response in a low voltage power receiving contract, which maximizes the profit of a high voltage batch receiving contractor and minimizes the electricity charge of residents by utilizing battery storage, electric vehicles (EV), and heat pumps. A multi-objective optimization algorithm calculates a Pareto solution for the relationship between two objective trade-offs in the MATLAB (R) environment.