This paper presents a day-ahead demand-side management (DSM)-integrated hybrid power management algorithm (PMA) with an objective of combined economic and emission load dispatch (CEED) considering losses. The algorithm was tested on an IEEE 30-bus six-generator system consisting of solar thermal/wind/wave/battery energy storage systems (BESSs) considering real-time data of the Gujarat (19°07′ N, 72°51′ E) coastal region and diverse renewable energy (RES) and storage sources. A maiden attempt of utilizing hybrid firefly particle swarm optimization (HFPSO) to reduce thermal energy consumption and carbon emission was presented. Further, a novel attempt for a versatile renewable power management system was proposed based on a day-ahead pricing scheme to manage load demand and generation effectively. The PMA permits the users to bring down the general load demand and adjust the load curve during the peak time frame. The comparative performance of particle swarm optimization (PSO), firefly algorithm (FA), and HFPSO algorithms in solving the objective was presented. The HFPSO algorithm was found to be the best in terms of a fuel cost of 544.160 (USD/h), emission 20.301 (kg/h), and peak-load reduction of 31.292%, 24.210%, and 51.197% for residential, commercial, and industrial loads, respectively, when contrasted with the other two algorithms PSO and FA.

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