Framework for smart grid to implement a price elasticity-based peak time rebate demand response program

The smart grid model is developed with some changes to help in implementing a demand response program which was initially for Pecan Street project. Correspondingly, the real-time solar and load data are collected from port city of Austin. A single day selected our analysis all four seasons year. flat rate, day-ahead pricing information ComEd. key challenge addressing business problems flexibility consumption. However, without considering properties loss aversion, system would not be practical solution. So, this article, dynamic based on price elasticity that integrates aversion characteristics proposed. proposed compared schemes seasons. Four scenarios created peak time rebate different combinations factor values possible rebates. This article directs how these could change curve utility can make decision about specific importance criteria, such as total carrying capacity, reduction, obtaining optimum profit consumer.