Microgrid stochastic economic load dispatch based on two-point estimate method and improved particle swarm optimization

Abstract

Summary Economic load dispatch (ELD) is a key issue for the economic and eco‐friendly operation of smart grids. With the increasing prevalence of renewable energy generation (REG), the stochastic properties of REG are drawing increased attention in the field of microgrid ELD. In this paper, the microgrid ELD problem considering uncertain REG, namely stochastic ELD (SELD), is formulated based on the wait‐and‐see approach. SELD is an optimization problem constrained by stochastic variables, and the optimal solutions are also random. The model incorporates many important factors, such as the detailed generation cost characteristics of microsources that make it difficult to obtain closed‐form solutions. Therefore, the efficient two‐point estimate method is applied to determine means and standard deviations of optimal solutions. To solve the cost‐minimization subproblem of microgrid SELD, an improved particle swarm optimization (IPSO) is also proposed. The simulation results show that the new mechanism in IPSO contributes to the optimization ability. Results also show that combined heat and power‐based microsources and the electricity tariff between the upstream grid and the microgrid have a significant influence on the expected total cost. Copyright © 2014 John Wiley & Sons, Ltd.

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