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This paper develops an analytical model for a residential microgrid (RMG) under a collaborative environment. The model assumes that the RMG community is under a social agreement referred to as Collaborative Consumption. The model includes a framework for RMGs using a unique method of demand response based on the particular characteristics of residential loads. Residential loads are categorized into three types based on their necessity and reschedulable ability. Consumers assign priority to their appliances. Then, the microgrid informs consumers about their real-time consumption and economic benefits associated with their participation in collaborative consumption. Accordingly, consumers can evaluate suggested alternatives prior to using appliances and consequentially make better decisions. Finally, the effects of model parameters on profit maximization are studied. The results of this paper estimate …