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Volume 14
Issue 19
10.3390/en14196333
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Article

Optimal Time-of-Use Electricity Price for a Microgrid System Considering Profit of Power Company and Demand Users

by
Ning Zhang
1,2,
Nien-Che Yang
3,* and
Jian-Hong Liu
2
1
College of Electrical Engineering and Automation, Fuzhou University, Fuzhou 350108, China
2
Department of Electrical Engineering, Yuan Ze University, 135, Yuan-Tung Road, Chung-Li, Taoyuan 32003, Taiwan
3
Department of Electrical Engineering, National Taiwan University of Science and Technology, 43, Keelung Road, Section 4, Taipei 10607, Taiwan
*
Author to whom correspondence should be addressed.
Energies 2021, 14(19), 6333; https://doi.org/10.3390/en14196333
Submission received: 4 September 2021 / Revised: 28 September 2021 / Accepted: 29 September 2021 / Published: 4 October 2021
(This article belongs to the Special Issue Frontiers in Smart Grids: Systems and Devices)
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Abstract

With high proportions of renewable energy generation in power systems, the power system dispatch with renewable energy generation has currently become a popular research direction. In our study, we propose a multi-objective dispatch model for a hybrid microgrid comprising a wind generator, photovoltaic (PV) generator, and an energy storage system to optimize the time-of-use (TOU) electricity price. The objective of the proposed multi-objective dispatch model is to maximize the profit of the power company and demand users, and minimize the proportion of users abandoning PV power and wind power. The elastic price of the load demand with a linear function is employed to optimize the TOU electricity price. Finally, we applied five test cases to validate the practicability of the multi-objective dispatch model.
Keywords: photovoltaic power; wind power; energy storage system; time-of-use electricity photovoltaic power; wind power; energy storage system; time-of-use electricity

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MDPI and ACS Style

Zhang, N.; Yang, N.-C.; Liu, J.-H. Optimal Time-of-Use Electricity Price for a Microgrid System Considering Profit of Power Company and Demand Users. Energies 2021, 14, 6333. https://doi.org/10.3390/en14196333

AMA Style

Zhang N, Yang N-C, Liu J-H. Optimal Time-of-Use Electricity Price for a Microgrid System Considering Profit of Power Company and Demand Users. Energies. 2021; 14(19):6333. https://doi.org/10.3390/en14196333

Chicago/Turabian Style

Zhang, Ning, Nien-Che Yang, and Jian-Hong Liu. 2021. "Optimal Time-of-Use Electricity Price for a Microgrid System Considering Profit of Power Company and Demand Users" Energies 14, no. 19: 6333. https://doi.org/10.3390/en14196333

APA Style

Zhang, N., Yang, N.-C., & Liu, J.-H. (2021). Optimal Time-of-Use Electricity Price for a Microgrid System Considering Profit of Power Company and Demand Users. Energies, 14(19), 6333. https://doi.org/10.3390/en14196333

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