Reliable economic dispatch of microgrids by exchange market algorithm

Abstract

Due to reducing fossil fuel energy sources and increasing demand in power networks, microgrids (MGs) comprised of distributed energy resources (DER), are getting attention of many researchers. On the other hand, DERs increase risk level in the system because of their uncertain nature. Thus, it is better to consider reliability terms in MGs analysis. In this paper, economic dispatch of a MG by considering reliability index is solved. The bi-objective reliable economic dispatch problem is considered as a single objective optimization problem using weighting coefficients. Exchange market algorithm (EMA) is applied to solve optimization problem with different weighting coefficients and fuzzy satisfying method is utilized to choose best compromise solution. Obtained results show the capability of the proposed method in solving complex and non-convex reliable economic dispatch problem.