Choice of an efficient, sustainable and cost-effective energy storage system for optimal operation of a microgrid system incorporating adaptive demand side management strategies

The cost-effective and low-carbon operation of a microgrid is significantly improved by Plug-in Hybrid Electric Vehicles (PHEVs) in comparison to Battery Energy Storage Systems (BESS) because of their flexible demand-side participation, bidirectional power flow, and mobility. PHEVs incorporate vehicle-to-grid (V2G) technology, which enables real-time load balancing, peak shaving, and dynamic energy exchange. In contrast, BESS is stationary and has a predetermined storage capacity. They reduce grid congestion more efficiently than BESS by optimizing charging schedules based on pricing signals in load shifting. PHEVs modify their charging profiles to absorb excess renewable energy during curtailment, thereby reducing power spillage. In the context of economic emission dispatch within a microgrid system, PHEVs are superior to BESS due to their potential and capacity to decrease both operational costs and emissions. A sustainable and economical optimization approach for a grid-connected microgrid with load shifting and curtailment rules is presented in this work. While Hong's 2 m Price Estimation Method (PEM) is used to manage the stochastic behavior of uncertain variables, the recently created Circle Search Algorithm (CSA) is used as an optimizing tool. A comparative analysis is conducted by integrating BESS and up to twenty PHEVs alternately to determine the most suitable storage solution. The influence of important parameters including state of charge, battery capacity, and operation time on system performance is investigated via sensitivity analysis. The findings shed light on the dependability, economy, and viability of PHEV-based storage relative to BESS. The suggested method guarantees affordable operation, optimizes energy management, and increases microgrid sustainability, thereby improving grid stability and increasing the use of renewable energy in contemporary power systems.