Robust Economic Dispatch of Microgrid With Highly Penetrated Renewables and Energy Storage System

Abstract

Economic dispatch (ED) of a grid-connected and renewable integrated microgrid is considered in this article. Here, the renewable energy sources (RES) taken into consideration are wind farms. A parameter worst-case-transaction-cost which arises due to the stochastic availability and uncontrollable nature of wind farms is also emphasised and efforts have been taken to minimize it too. Hence, the article focuses on separately optimizing the generation costs and the worst-case transaction costs. It also optimises the net microgrid cost as a whole, which is the summation of generation costs and the worst-case transaction costs. Two different cases with highly varying transaction prices are studied. Various types of loads, ramp rates of generators, charging and discharging limits of the batteries are taken into consideration while minimizing the microgrid cost. Four meta-heuristic soft computing algorithms are applied for optimization and a comparative analysis among them is studied. Numerical results are tabulated to justify the effectiveness of the novel approach.