Cost Saving Optimization Model for Energy Management System of a DC Microgrid Under Real Time Pricing

Abstract

Microgrids are transforming the traditional way of meeting energy demands at several communities and establishments. They offer new avenues to achieve a carbon free, reliable, and resilient electric grid. With the advancements made in the power electronic converter technology, the DC microgrids are gaining popularity nowadays. This paper proposes a load dispatch model for energy management system (EMS) in a DC microgrid comprising solar (PV), wind power, diesel generator, and battery energy storage system. In the grid connected mode of operation, it facilitates a two way transaction of power between the microgrid and utility. The EMS with proposed model gave significant cost savings for the microgrid owner. In particular, application of the genetic algorithm based method resulted in optimal operation and maintenance costs as against the pattern search algorithm based method.