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With the rapid evolution of electric systems, there has been a significant demand for energy Internet (EI) systems that allow sustainable and environmentally friendly energy management. Several research efforts regarding EI systems have been aimed at providing reliable, efficient, and cost-effective techniques. In this paper, we propose a novel algorithm and system for real-time electricity pricing and scheduling. Our algorithm consists of a two-stage operation. The first stage performs real-time pricing to determine the maximum electricity consumption while the second stage performs Internet of Things (IoT) device scheduling. In the second stage, the optimization framework for scheduling is modeled as a 0–1 Knapsack problem; therefore, the solutions to the optimization problem are computed using a dynamic programming framework. Through intensive simulations with well-defined parameters, it is verified that the …