Optimal sizing and operation of battery energy storage systems for residential microgrids

Abstract

This thesis probes into residential microgrids, focusing on incorporation of solar power and battery energy storage systems. It spotlights the economics of lithium iron phosphate battery technology in residential use, advocating a strategic move to Direct Current power distribution. It promises enhanced energy efficiency and economic returns by suggesting optimization of battery operations and integration of demand-side management. This contributes to societal well-being by promoting green practices, lowering energy costs, and curbing greenhouse gas emissions, fostering energy self-sufficiency. Additionally, it proposes a cutting-edge demand-side management strategy using long short-term memory networks, signaling a leap forward in cost-effective home energy management.