Claims:WE CLAIM:

1. A method for limiting demand of power for a power consumption system, comprising:
computing, by a demand limiting unit, demand limiting threshold values based on one or more predefined parameters;
determining, by the demand limiting unit, a demand limiting mode of the power consumption system to be one of enabled and disabled, based on the demand limiting threshold values, the one or more predefined parameters and a ratio, wherein the ratio is based on benefit to a user in terms of cost and impact on the user associated with the demand limiting mode;
identifying, by the demand limiting unit, demand limiting strategy based on the one or more predefined parameters and the impact ,when the demand limiting mode is enabled; and
executing, by the demand limiting unit, the demand limiting strategy on one or more target equipment based on a switching sequence, wherein the switching sequence selects the one or more target equipment from one or more load groups associated with the power consumption system, for limiting demand of power for the power consumption system.

2. The method as claimed in claim 1 further comprising:
monitoring, by the demand limiting unit, the power consumption system in one of the enabled and disabled demand limiting mode; and
adjusting, by the demand limiting unit, the one or more predefined parameters based on the monitoring, wherein the adjusting varies the impact.

3. The method as claimed in claim 1, wherein the one or more predefined parameters comprise temperature threshold values, humidity threshold values, time threshold values, lux threshold values, one or more conditions at a site comprising the one or more loads, profile data, power usage data, tariff data, billing data, demand- reduction target data, target data and demand limiting of the one or more loads.

4. The method as claimed in claim 1, wherein identifying the demand limiting strategy further comprising:
grouping, by the demand limiting unit, the one or more loads to obtain one or more load groups; and
ranking, by the demand limiting unit, the one or more loads groups for identifying the demand limiting strategy.

5. The method as claimed in claim 1, wherein the switching sequence is determined by prioritizing the one or more loads based on the one or more predefined parameters and the impact.

6. A demand limiting unit for limiting demand of power for a power consumption system, comprises:
a processor; and
a memory communicatively coupled to the processor, wherein the memory stores processor-executable instructions, which, on execution, cause the processor to:
compute demand limiting threshold values based on one or more predefined parameters;
determine a demand limiting mode of the power consumption system to be one of enabled and disabled, based on the demand limiting threshold values, the one or more predefined parameters and a ratio, wherein the ratio is based on benefit to a user in terms of cost and impact on the user associated with the demand limiting mode;
identify demand limiting strategy based on the one or more predefined parameters and the impact ,when the demand limiting mode is enabled; and
execute the demand limiting strategy on one or more target equipment based on a switching sequence, wherein the switching sequence selects the one or more target equipment from one or more load groups associated with the power consumption system, for limiting demand of power for the power consumption system.

7. The demand limiting unit as claimed in claim 6 further comprises:
monitoring the power consumption system in one of the enabled and disabled demand limiting mode; and
adjusting the one or more predefined parameters based on the monitoring, wherein the adjusting varies the impact.

8. The demand limiting unit as claimed in claim 6, wherein the one or more predefined parameters comprise temperature threshold values, humidity threshold values, time threshold values, lux threshold values, one or more conditions at a site comprising the one or more loads, profile data, power usage data, tariff data, billing data, demand- reduction target data, target data and demand limiting of the one or more loads.

9. The demand limiting unit as claimed in claim 6, wherein identifying the demand limiting strategy further comprises:
grouping the one or more loads to obtain one or more load groups; and
ranking the one or more loads groups for identifying the demand limiting strategy.

10. The demand limiting unit as claimed in claim 6, wherein the switching sequence is determined by prioritizing the one or more loads based on the one or more predefined parameters and the impact.

Dated this 22nd day of January, 2015

R RAMYA RAO
OF K & S PARTNERS
AGENT FOR THE APPLICANT
, Description:FIELD OF THE DISCLOSURE
The present subject matter generally relates to power consumption systems. More particularly, but not exclusively, the present disclosure discloses a method and a device for limiting demand of power for a power consumption system.