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This research work presents a novel technique of Optimized and Cost Effective Power Management System (OCEPMS) for domestic users. The technique incorporates all the three important aspects of an Optimized and Cost Effective Power Management System and gives a complete microcontroller based low cost solution. These aspects include: power factor improvement, voltage optimization and surge / spike suppression. For power factor improvement, an algorithm is devised which automatically switches capacitors based on real time calculated requirements. A soft switching mechanism is used for the...