Cost-Benefit Analysis of Multiple Shunt Compensators Allocation in PV-Integrated Distribution Networks for Profit Maximization

Abstract

This article presents the cost-benefit analysis of multiple shunt compensator (SHC) allocations in photovoltaic (PV)-integrated distribution networks for profit maximization. This article strategically places multiple SHCs in a PV-integrated distribution network to minimize energy losses (EL) and maximize profits by providing reactive power compensation. The study evaluates the EL reduction achieved by installing SHCs during a 20-year planning period. It considers the impact of PV integration, load growth, seasonal load, and PV generation profiles on overall system performance. Particle Swarm Optimization (PSO) is employed to identify optimal locations for SHCs to maximize the profit obtained from EL reduction in the network. The results demonstrate that SHCs significantly reduce EL and enhance system performance. The cost-benefit analysis shows that the profit obtained from EL reduction justifies the investment required for SHC installation. Furthermore, the overall profit is higher for scenarios with more SHCs. These findings highlight the importance of carefully balancing PV integration and SHC placement to achieve maximum benefits in PV-integrated distribution networks. This article also evaluates the effectiveness of the PSO algorithm on different distribution networks through a comprehensive statistical analysis.