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Abstract
This paper presents a multi-objective dynamic economic dispatch model with renewable obligation requirements. The two objective functions that are presented in this paper aim to increase the level of renewable energy sources in the grid while minimising the total operating cost and respecting the spinning reserves required to maintain continuity of supply. The proposed model incorporates thermal power plants, photovoltaic and wind power plants into the grid. The paper presents a Pareto optimal solution which is a compromise between maximising the renewable energy source generation while minimising the operating costs. A renewable obligation policy is implemented in the proposed model to ensure that renewable energy source generators are utilised and any failure to attain the required renewable obligation is penalised in line with the renewable obligation framework. The proposed model is modified into a single objective optimisation problem and numerical tests are performed on the modified IEEE 24 RTS system and IEEE 118 bus system to test the effectiveness of the model. A comparative study evaluates the impact of the proposed model on the traditional dynamic economic dispatch in terms of the achieved renewable energy source penetration level and economic performance. The numerical simulations show that the proposed model is robust and can attain high renewable energy source penetration levels.
Highlights
In the past decade there has been an acceleration in the integration of variable renewable energy sources (RES) in the power grid as part of the transition towards decarbonisation of the electricity sector
The renewable obligation certificates (ROC) are awarded to companies that comply with their RES obligation which can further be traded in the market and typically one ROC certificate is equivalent to 1 MWh of renewable energy production
The α value in (8), is the required RO which means that a portion of the total scheduled output power must come from RES, or else a penalty cost is imposed for the undelivered renewable generation
Summary
In the past decade there has been an acceleration in the integration of variable renewable energy sources (RES) in the power grid as part of the transition towards decarbonisation of the electricity sector. A novel multi-objective function that includes the RES quota is presented in order to minimise the operating costs of thermal generators, spinning reserve, and maximise the RES penetration The basis for this approach emanates from the need to achieve a moderate energy mix in the network that includes RES and thermal generators. The contributions of this work are listed below: 1) A RO policy framework is mathematically modelled and incorporated into a SCED to allow maximum RES penetration while penalizing generation companies for not complying with the minimum RES quota This model is aligned to the quantitybased instrument which measures the quantity of RES injected into the grid to achieve a cost-effective energy mix.
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