An energy acquisition model for DISCOMs with high renewable energy integration

Abstract

In the existing power system, the penetration of renewable energy sources (RES) is very low. In future, RES is expected to play a key role in meeting the vast power demand. This will result in a risk to stability and reliability of the power system, owing to the intermittent nature of RES. They introduce significant errors in forecasting, depending on which Distribution Company's (DISCOMs) will purchase energy to meet the demand. Any difference between the real time demand and forecasted demand is to be met by the DISCOMs in the real time market (RTM) at extra prices, thus exposing them to the risk of price volatility. In this paper, an optimal operation strategy using battery energy storage system (BESS) is proposed, along with which optimization of placement and sizing of BESS is done using a novel optimization technique called teacher learning based optimization (TLBO) algorithm. The results show that this optimal operation strategy is able to yield significant savings for the DISCOMs and TLBO performs better than other heuristic algorithms. The entire work is carried out on an IEEE modified 15 bus radial distribution system, in both regulating and locational marginal price (LMP) markets.