Abstract

Smarter use of the renewable energy produced by solar panels reduces the return time of the investment necessary for their installation. This improvement consequently motivates more households to use solar panels so as to not only help protect the environment, but also better use the expensive energy. The difference in tariff prices at different hours of the day is one such opportunity for smarter use of solar electricity: we propose and implement a real-time strategy to more economically use the produced solar electrical energy by forecasting future demand of a few days ahead and by using that energy at the most economical time. Evaluation of the proposed technique in an educational building showed that this scheme improves financial advantage of solar panels by 41% compared with the direct connection of production of solar panels to the grid, or using the stored solar energy completely unawares, hence it can reduce the return time of investment by the same amount. Moreover, since our technique reduces power usage from the utility grid at peak tariff hours, it is one way to move toward a uniform consumption at the suppliers’ level that leads to better use and higher quality and stability.

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