Analysis of the Effects of the Home Energy Management System from an Open Innovation Perspective

Analysis of the Effects of the Home Energy Management System from an Open Innovation Perspective

The Home Energy Management System (HEMS) is a system for the efficient electric power consumption of each household. It can provide real-time electricity cost information according to electricity consumption, and households can immediately control their consumption of electricity. In this study, we...

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Bibliographic Details
Published in:Journal of open innovation Vol. 4; no. 3; p. 31
Main Authors: Park, EungSuk, Kim, BoRam, Park, SooHyun, Kim, Daecheol
Format: Journal Article
Language:English
Published: Kidlington Elsevier Ltd 01-09-2018
Elsevier Limited
Subjects:
Alternative energy sources
Consumers
Dynamic structural analysis
efficiency
Electric power
Electric power demand
Electricity
Electricity consumption
Electricity distribution
Energy consumption
Energy management
HEMS
Households
Market prices
Perceptions
Power consumption
Power supply
Pricing policies
Real time
Residential energy
smart grid
Smart grid technology
Stability analysis
Supply & demand
System dynamics
Technology Acceptance Model
Time lag
system dynamics
HEMS
smart grid
efficiency
electric power
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Summary:The Home Energy Management System (HEMS) is a system for the efficient electric power consumption of each household. It can provide real-time electricity cost information according to electricity consumption, and households can immediately control their consumption of electricity. In this study, we analyzed the effects of the HEMS on the stability of demand for electric power. To do this, we analyzed the causal relationship between the amounts of electric power generation and consumption, from the system dynamics perspective. From the analysis, we found that in the current structure, the fluctuation of the quantity of demand became large due to the time delay in households recognizing the electric bill and adjusting their electric power consumption. However, when the HEMS was introduced, it could be seen that electric power demand remained stable since consumers could see their electricity bill in real-time and could manage their electricity consumption by themselves.
ISSN:2199-8531
2199-8531
DOI:10.3390/joitmc4030031