Two-Stage Optimal Microgrid Operation with a Risk-Based Hybrid Demand Response Program Considering Uncertainty

Ho-Sung Ryu and Mun-Kyeom Kim
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Ho-Sung Ryu: School of Energy System Engineering, Chung-Ang University, 84 Heukseok-ro, Dongjak-gu, Seoul 06974, Korea
Mun-Kyeom Kim: School of Energy System Engineering, Chung-Ang University, 84 Heukseok-ro, Dongjak-gu, Seoul 06974, Korea

Energies, 2020, vol. 13, issue 22, 1-25

Abstract: Owing to the increasing utilization of renewable energy resources, distributed energy resources (DERs) become inevitably uncertain, and microgrid operators have difficulty in operating the power systems because of this uncertainty. In this study, we propose a two-stage optimization approach with a hybrid demand response program (DRP) considering a risk index for microgrids (MGs) under uncertainty. The risk-based hybrid DRP is presented to reduce both operational costs and uncertainty effect using demand response elasticity. The problem is formulated as a two-stage optimization that considers not only the expected operation costs but also risk expense of uncertainty. To address the optimization problem, an improved multi-layer artificial bee colony (IML-ABC) is incorporated into the MG operation. The effectiveness of the proposed approach is demonstrated through a numerical analysis based on a typical low-voltage grid-connected MG. As a result, the proposed approach can reduce the operation costs which are taken into account uncertainty in MG. Therefore, the two-stage optimal operation considering uncertainty has been sufficiently helpful for microgrid operators (MGOs) to make risk-based decisions.

Keywords: two-stage optimization; risk-based hybrid demand response; uncertainties; conditional value at risk; improved multi-layer artificial bee colony algorithm (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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