Scenario-Based Stochastic Optimization for Energy and Flexibility Dispatch of a Microgrid

Abstract

Peak net power exchange of scenario w during the flexibility activation period. c B Cost of cycle-based battery degradation in [$].

A Joint Optimization Approach on Monthly Balancing Mechanism and Unit Maintenance Scheduling

“…To address the optimization dispatch problem caused by supply-demand uncertainty, various methods are commonly used for model establishment, including reserve capacity [5],robust optimization dispatch [6][7][8][9][10], and stochastic optimization dispatch [11][12][13][14][15] Reference [16]describes robust optimization as representing random variables in the form of sets, which requires the worst-case scenario to satisfy the requirements, making it overly conservative and potentially lacking an optimal solution. Common stochastic optimization methods include scenario-based stochastic optimization [17][18][19][20] and chance-constrained programming-based stochastic optimization [21][22]. Scenario-based stochastic optimization involves obtaining a scenario set that conforms to certain characteristics through sampling when the probability distribution of the random variables is known.…”