Optimum exploitation of multiple energy system using IGDT approach and risk aversion strategy and considering compressed air storage with solar energy

Yan Shi, Qinggang Zhao and Ling Jiao

Energy, 2024, vol. 291, issue C

Abstract: The concept of an energy hub within a microgrid has garnered significant attention from investors due to its potential for efficiently managing diverse energy sources and accurately forecasting energy prices. This study presents a model for an energy hub that facilitates the optimal operation of a microgrid with multiple energy carrier infrastructures under future-day scenarios. The primary objective of the optimization process is to minimize operating costs, environmental impacts, and technical limitations. The proposed energy hub model integrates both distributable generation, such as a Combined Cooling, Heating, and Power (CCHP) unit, and non-distributable generation sources, including wind turbines and photovoltaic systems. Additionally, it incorporates various energy storage components, namely Ice Storage Conditioner (ISC), Thermal Energy Storage (TES) systems, and Electric Vehicles (EVs). Furthermore, the study investigates the impact of a novel energy storage system called Solar Powered Compressed Air Energy Storage (SPCAES) on the operational and environmental performance of the energy hub. To address uncertainties stemming from predicted and actual variables, a two-level stochastic optimization problem is formulated based on the Information Gap Decision Theory (IGDT) with a Risk Aversion (RA) strategy. The overarching aim is to mitigate the risks associated with the information gap confronted by microgrid operators. Subsequently, the two-level stochastic optimization problem is transformed into a single-level problem using the Karush-Kuhn-Tucker method. The proposed framework employs the RA-IGDT method and utilizes the Elephant Herd Optimization (EHO) algorithm to effectively solve the optimization problem. By applying this proposed framework to a typical energy hub, this research demonstrates the effectiveness of energy storage systems in reducing operating costs and greenhouse gas emissions during daily energy management. The study highlights the potential of energy hubs and storage systems for cost-effective and eco-friendly microgrid energy management. Scenario 4, featuring the proposed energy hub with SPCAES and ISC storage, demonstrates a 15 % reduction in operating costs and a notable 20 % increase in peak-hour electrical power for sale, underscoring its economic and operational benefits.

Keywords: Energy system management; IGDT theory; SPCAES storage; Uncertainty modeling; Elephant herd optimization algorithm (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:291:y:2024:i:c:s0360544224001403

DOI: 10.1016/j.energy.2024.130369

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