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Electricity cost minimization for a residential smart Grid with distributed generation and bidirectional power transactions

Electricity cost minimization for a residential smart Grid with distributed generation and bidirectional power transactions

In this paper, we consider the electricity cost minimization problem in a residential network where each community is equipped with a distributed power generation source and every household in the community has a set of essential and shiftable power demands. We allow bi-directional power transactions and assume a two-tier pricing …