Optimal Sizing of Distributed Energy Resources in a Microgrid System with Highly Penetrated Renewables

Economic dispatch (ED) of a grid connected and renewable integrated microgrid system is considered in this paper. Two wind farms take the renewable energy sources (RES) into consideration. A parameter worst-case-transaction-cost which arises due to the stochastic availability and uncontrollable nature of wind farms is also emphasised and efforts have been taken to minimize it too. Hence the paper's focus into split objective functions and the generation costs and the worst case transaction costs are optimised separately and also the net microgrid cost is optimized as a whole. Two different cases with highly varying transaction prices are studied. Two meta-heuristic soft computing algorithms are applied for optimization and a comparative analysis among them is studied. Numerical results are tabulated to justify the effectiveness of the novel approach.