Benefit maximization and optimal scheduling of renewable energy sources integrated system considering the impact of energy storage device and Plug-in Electric vehicle load demand

Abstract

The intermittent nature of renewable-based generation may cause the dip or rise in generation and load imbalances. This paperwork obtains optimal generation scheduling, market benefit maximization, and daily energy loss minimization considering the impact of Plug-in Electric vehicles (PEV) and battery energy storage devices using nonlinear programming. The Plug-in EV load demand has been modelled using the Monte Carlo simulation (MCS), and the size of the energy storage device is obtained in the renewable energy source (RES) Microgrid distribution system. The proposed work's main contributions are (i) total cost-benefit maximization, (ii) daily energy loss minimization, (iii) optimal generation scheduling of RES based Microgrid and (iv) probabilistic modelling of PEV load demand and BES sizing. Furthermore, the results were compared to those available in the literature. The voltage variations in the Microgrid are also calculated with the effects of PEV and BES into account. The IEEE-33 bus test system was the subject of the investigation. The multi-objective problem has been solved using iterative Monte Carlo Simulation (MCS) and Nonlinear Programming (NLP). The proposed approach was implemented using MATLAB and GAMS interface. The daily energy loss has been decreased by 30.085 %, and the voltage deviation (VD) has been minimized by1.165 %.