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Energies 2018, 11(3), 610; https://doi.org/10.3390/en11030610

Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs

1
Department of Electrical and Computer Engineering, University of Kurdistan, Sanandaj 66131, Iran
2
Department of Electrical Engineering, Sanandaj Branch, Islamic Azad University, Sanandaj 66131, Iran
3
C-MAST, University of Beira Interior, 6201-001 Covilhã, Portugal
4
INESC TEC and the Faculty of Engineering of the University of Porto, 4200-465 Porto, Portugal
5
INESC-ID, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal
*
Authors to whom correspondence should be addressed.
Received: 17 February 2018 / Revised: 4 March 2018 / Accepted: 7 March 2018 / Published: 9 March 2018
(This article belongs to the Special Issue Distributed Renewable Generation 2018)
Full-Text   |   PDF [7127 KB, uploaded 9 March 2018]   |  

Abstract

The operation problem of a micro-grid (MG) in grid-connected mode is an optimization one in which the main objective of the MG operator (MGO) is to minimize the operation cost with optimal scheduling of resources and optimal trading energy with the main grid. The MGO can use incentive-based demand response programs (DRPs) to pay an incentive to the consumers to change their demands in the peak hours. Moreover, the MGO forecasts the output power of renewable energy resources (RERs) and models their uncertainties in its problem. In this paper, the operation problem of an MGO is modeled as a risk-based two-stage stochastic optimization problem. To model the uncertainties of RERs, two-stage stochastic programming is considered and conditional value at risk (CVaR) index is used to manage the MGO’s risk-level. Moreover, the non-linear economic models of incentive-based DRPs are used by the MGO to change the peak load. The numerical studies are done to investigate the effect of incentive-based DRPs on the operation problem of the MGO. Moreover, to show the effect of the risk-averse parameter on MGO decisions, a sensitivity analysis is carried out. View Full-Text
Keywords: demand response programs; micro-grid; renewable energy resources; risk-management; two-stage stochastic programming demand response programs; micro-grid; renewable energy resources; risk-management; two-stage stochastic programming
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Sheikhahmadi, P.; Mafakheri, R.; Bahramara, S.; Damavandi, M.Y.; Catalão, J.P.S. Risk-Based Two-Stage Stochastic Optimization Problem of Micro-Grid Operation with Renewables and Incentive-Based Demand Response Programs. Energies 2018, 11, 610.

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