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Power systems optimization under uncertainty: a review of methods and applications

Author

Listed:
  • Roald, Line A.
  • Pozo, David
  • Papavasiliou, Anthony

    (Université catholique de Louvain, LIDAM/CORE, Belgium)

  • Molzahn, Daniel K.
  • Kazempour, Jalal
  • Conejo, Antonio

Abstract

Electric power systems and the companies and customers that interact with them are experiencing increasing levels of uncertainty due to factors such as renewable energy generation, market liberalization, and climate change. This raises the important question of how to make optimal decisions under uncertainty. This paper aims to provide an overview of existing methods for modeling and optimization of problems affected by uncertainty, targeted at researchers with a familiarity with power systems and optimization. We also review some important applications of optimization under uncertainty in power systems and provide an outlook to future directions of research.

Suggested Citation

  • Roald, Line A. & Pozo, David & Papavasiliou, Anthony & Molzahn, Daniel K. & Kazempour, Jalal & Conejo, Antonio, 2023. "Power systems optimization under uncertainty: a review of methods and applications," LIDAM Reprints CORE 3257, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:3257
    DOI: https://doi.org/10.1016/j.epsr.2022.108725
    Note: In: Electric Power Systems Research, 2023, vol. 214, part A, 108725
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    Cited by:

    1. Gómez-Pérez, Jesús D. & Latorre-Canteli, Jesus M. & Ramos, Andres & Perea, Alejandro & Sanz, Pablo & Hernández, Francisco, 2024. "Improving operating policies in stochastic optimization: An application to the medium-term hydrothermal scheduling problem," Applied Energy, Elsevier, vol. 359(C).
    2. Shen, Haotian & Zhang, Hualiang & Xu, Yujie & Chen, Haisheng & Zhang, Zhilai & Li, Wenkai & Su, Xu & Xu, Yalin & Zhu, Yilin, 2024. "Two stage robust economic dispatching of microgrid considering uncertainty of wind, solar and electricity load along with carbon emission predicted by neural network model," Energy, Elsevier, vol. 300(C).
    3. Tostado-Véliz, Marcos & Jin, Xiaolong & Bhakar, Rohit & Jurado, Francisco, 2024. "Coordinated pricing mechanism for parking clusters considering interval-guided uncertainty-aware strategies," Applied Energy, Elsevier, vol. 355(C).
    4. Hasanien, Hany M. & Alsaleh, Ibrahim & Alassaf, Abdullah & Alateeq, Ayoob, 2023. "Enhanced coati optimization algorithm-based optimal power flow including renewable energy uncertainties and electric vehicles," Energy, Elsevier, vol. 283(C).

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