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A real time pricing strategy for remote micro-grid with economic emission dispatch and stochastic renewable energy sources

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  • Anand, Hithu
  • Ramasubbu, Rengaraj

Abstract

Micro-grid is a complete energy solution for remote areas facing energy crisis however, energy cost from fuel based sources in a micro-grid is higher than conventional sources. So price-signal based control strategy for the benefit of utility and customers by virtue of renewable integration is analysed. Renewable energy has become less costiler than fuel based sources in a micro-grid. Stochastic power generated from wind turbine (WT) and photo voltaic (PV) along with economic generation from micro-turbine (MT) and fuel cell (FC) is optimised. Anti-predatory particle swarm optimisation (APSO) for non-linear dynamic economic emission dispatch of micro-grid for 24 h with and without renewable energy sources (RESs) is analysed. APSO method with RESs is identified to give better fuel-cost-minimum. Power-to-cost index is proposed as a simple real time pricing (RTP) strategy. The strategy is identified to have the potential to bring down power demand and peak reduction followed by additional reduction in emission and fuel cost in any micro-grid.

Suggested Citation

  • Anand, Hithu & Ramasubbu, Rengaraj, 2018. "A real time pricing strategy for remote micro-grid with economic emission dispatch and stochastic renewable energy sources," Renewable Energy, Elsevier, vol. 127(C), pages 779-789.
    • Handle: RePEc:eee:renene:v:127:y:2018:i:c:p:779-789
    DOI: 10.1016/j.renene.2018.05.016
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    4. Yuan, Guanxiu & Gao, Yan & Ye, Bei, 2021. "Optimal dispatching strategy and real-time pricing for multi-regional integrated energy systems based on demand response," Renewable Energy, Elsevier, vol. 179(C), pages 1424-1446.
    5. Su, Huai & Chi, Lixun & Zio, Enrico & Li, Zhenlin & Fan, Lin & Yang, Zhe & Liu, Zhe & Zhang, Jinjun, 2021. "An integrated, systematic data-driven supply-demand side management method for smart integrated energy systems," Energy, Elsevier, vol. 235(C).
    6. Morteza Neishaboori & Alireza Arshadi Khamseh & Abolfazl Mirzazadeh & Mostafa Esmaeeli & Hamed Davari Ardakani, 2024. "Stochastic optimal pricing for retail electricity considering demand response, renewable energy sources and environmental effects," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 23(5), pages 435-451, October.
    7. Makolo, Peter & Zamora, Ramon & Lie, Tek-Tjing, 2021. "The role of inertia for grid flexibility under high penetration of variable renewables - A review of challenges and solutions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 147(C).

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