Currently, buildings account for more than 36% of the energy consumed worldwide [1]. That’s why it is very important for our lives that our working environment and living space are operated cost-effectively. To minimize the cost factor and to achieve energy savings, state-of-the-art solutions for energy management and control system can be proposed and developed.  


The purpose of this thesis is to reduce CO2 emissions by finding cost-effective solutions based on renewable energy sources. 


We have designed and developed simulation models for each component of a home energy management system based on solar panels. Our models are based on mathematical equations and equivalent electrical circuits and implemented in MATLAB, using scripts and functions. With data collected from weather stations and a smart meter, the such a model can simulate various scenarios for any residential house. The residential load system can also be built and customized within our model without a smart meter. 


For a faster estimation of the PV system generation, modules degradation, and load consumption but also for studying and analyzing the electricity cost trends, financial analysis and system performance with different components, a commercially available software PVSol has been used. We compared the technologies and components making a financial analysis to find cost-effective solutions. We compared our models developed in MATLAB-Simulink with PVSol to validate our models in terms of energy production and data management. The effectiveness of the components used in the PV-system has also been discussed or optimized.  


The simulations are performed considering the data for a full year, which includes data processing as well as a lot of scenarios to be investigated and analyzed. Some important parameters which are investigated are low-light environments and shading effects on PV modules, the effect of low/high temperatures, and the effect of different technologies and components.