Abstract
Extreme weather events have always posed as a serious threat to the power system. In recent years the frequent occurrences of extreme events highlight the requirement for a resilient distribution system capable of maximizing load restoration under the most adverse situations. Because the requirement to reinforce the distribution system appears to be an expensive approach, it is crucial to make the proper investment decisions. In this regard, this article introduces a single-stage stochastic multi-criteria optimization method for maximizing network resilience over a series of investments while minimizing overall costs. This method conducts different categories of investments including the installation of sectionalizing switches, distributed energy resources, and hardening of overhead distribution lines. The optimization method is based on a genetic algorithm and can be used to address a large-scale network. Several numerical studies are tested on the IEEE 69-bus system to verify the effectiveness of the proposed method. The results of the investment decision-making method show the significance of combining planning and operational preparedness in distribution systems to respond to extreme weather events.
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