Daily Operation Optimization for Grid-Connected Hybrid System Considering Short-Term Electricity Price Forecast Scheme

Abstract

With an increasing public and governmental awareness regarding environment protection and sustainable resources, hand-in-hand with an escalating electricity demand, the exponential growth of renewable energy generation capacity has been the “answer”. Mitigating the environmental harms associated with the more conventional energy sources such as: coal, oil, gas and nuclear. Nonetheless, some challenges remain, particularly concerning the integration of these technologies into the conventional generation mix. Hybrid energy systems allow a paradigm shift from a concentrated conventional generation to a more distributed one. This paper discusses the optimized PV-wind with hydro and battery storage capabilities for a grid-connected application considering the Short-Term Price Forecast information. The proposed technique has been tested in different scenarios, and results demonstrate the effectiveness of the proposed approach.