## 2 Demand-Side Management Classifications and Their Roles in Cost Minimization
### Classification of DSM
#### 2.1.2 Load Scheduling
\begin{table}
\begin{tabular}{p{113.8 pt} p{113.8 pt} p{113.8 pt}} \hline \hline
**Ref.** & **Objective** & **Advantage/ Outcomes** \\ \hline
[58] & & Maximizes the consumers’ payoff by improving the economic efficiency of the residential consumption \\ \hline
[77] & Cost minimization & Maximizes the welfare of consumers \\ \hline
[89] & & Maximizes consumers profit \\ \hline
[93] & & PAPR reduces \\ \hline
[95] & & Minimizes the operation cost \\ \hline
[98] & & Reduces the consumers’ electricity expenses \\ \hline
[112] & Cost and PAPR reduction & Minimizes consumers’ bills by up to 25\% \\ \hline
[76] & & Minimizes the waiting time of the appliances \\ \hline
[113] & Electricity bill reduction & Minimizes consumers’ electricity consumption \\ \hline
[81] & & The total generation cost is minimized at the Nash equilibrium point \\ \hline
[86] & & Reduces the bills by up to 22\% \\ \hline
[91] & & Minimizes the cost of energy \\ \hline
[87] & Electricity cost reduction & Minimizes the total average cost of electricity of all consumers \\ \hline
[114] & Electricity cost reduction and stabilization of the load profile & Minimizes electricity consumption of all consumers \\ \hline
[115] & Generation cost and PAPR minimization & Minimizes the consumers’ energy costs \\ \hline
[62] & Maximization of the overall utility & Satisfies the budget limits \\ \hline
[80] & Maximization of the welfare of consumers & Minimizes transmission losses \\ \hline
[96] & Maximization of the generation & Maximizes the generation capacity \\ \hline
[116] & Maximization of the social welfare & Minimizes the electricity costs which, in turn, maximizes the welfare \\ \hline
[117] & Maximization of the consumer profit & Minimizes the consumers’ electricity bills \\ \hline
[118] & Minimization of the generation cost & Reduces the generation cost and demand during peak hours which \\ \hline
[92] & Minimization of the generation cost and demand during peak hours & Reduces the generation cost and demand during peak hours which \\ \hline
[192] & & demand during peak hours \\ \hline
[119] & Minimization of the discomfort level of consumers & Improves the satisfaction of consumers \\ \hline
[85] & Minimization of the peak demand & Reduces the capital expenditure \\ \hline
[82,83] & PAPR reduction & Minimizes the electricity bills \\ \hline
[61] & & Reduces the PAPR and maximizes the consumers’ social welfare \\ \hline
[120] & Maximization of consumers’ welfare & \\ \hline
[111] & Demand during peak hours and consumers’ bills & Considers multiple utilities \\ \hline
[110] & Reduction of peak hours demand & The proposed system can be applied for multiple inputs, like temperature changes, etc. \\ \hline
[68] & Price reduction and reliability & Minimizes energy cost \\ \hline
[97] & Reduction of energy consumption & Minimizes the imbalance caused by DERs on the main grid \\ \hline \hline \end{tabular}
\end{table} 
Table 7: Optimization objectives and outcomes. DSM Based on Energy Pricing  
There are increases/decreases in the electricity price with increases or decreases in the electricity demand. During peak hours, the suppliers increase their electricity prices as they operate the peaker power plants, while in off-peak hours, the nominal price is used. By managing the consumers' demands during peak hours, the electricity bills that were at the peak can be reduced. There are many pricing schemes available in the literature, i.e., real-time pricing (RTP), fixed pricing, inclining block rate (IBR), customer reward (CR), net sale/purchase and time of use (TOU), etc. All these various pricing schemes and the relevant articles are summarized in Table 8. RTP pricing can be managed by the consumers themselves;, therefore, if the consumers curtail their demands, they will be awarded some incentives like a reduction in price and continuous and reliable supply. We categorized all of the existing DSM frameworks on the basis of pricing schemes.