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J. Open Innov. Technol. Mark. Complex. 2018, 4(3), 31; https://doi.org/10.3390/joitmc4030031

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

1
Department of Business Administration, Graduate School of Hanyang University, Seoul 04763, Korea
2
School of Business, Hanyang University, Seoul 04763, Korea
*
Author to whom correspondence should be addressed.
Received: 31 May 2018 / Revised: 27 July 2018 / Accepted: 31 July 2018 / Published: 3 August 2018
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Abstract

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. View Full-Text
Keywords: HEMS; system dynamics; smart grid; efficiency; electric power HEMS; system dynamics; smart grid; efficiency; electric power
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Park, E.; Kim, B.; Park, S.; Kim, D. Analysis of the Effects of the Home Energy Management System from an Open Innovation Perspective. J. Open Innov. Technol. Mark. Complex. 2018, 4, 31.

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J. Open Innov. Technol. Mark. Complex. EISSN 2199-8531 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
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