Search algorithm development for novel electricity auction in microgrids

Abstract

This paper describes the development of a novel search algorithm to be used as a key component inside an electricity auction algorithm for electrical microgrids. Electricity auctions and common search algorithms are reviewed. Since no common search algorithm proves eligible for an optimal solution of the search problem inside the novel electricity auction, a custom two-step search algorithm is developed. The developed search algorithm divides the search into two: first, the search is „arrowed based on simplified assumptions, and second, a filtered search algorithm is used to find the optimal set of bids. Comparative results for different search algorithm variations and insights to future research are presented at the end of this paper.