Evaluation of Economic Impact of Renewable Energy Sources in Multi-period Optimal Operation of Power Systems

Abstract

Abstract: In order to operate the electrical network economically and effectively, generation from various sources must be appropriately scheduled. Integrated systems are more common today because of the increase in the cost of fossil fuels and the technological advancements made in the field of renewable energy Resources. To be able to determine the best settings, the optimal power flow problem is posed with all relevant system characteristics, including generator outputs. The network might include conventional fossil fuel generators and renewable energy sources like wind power generators and solar photovoltaic. The classic problem of optimal power flow is a complex non-linear problem with non-linear constraints. In this research, it is suggested how thermal plants with wind and solar integration operate economically using General Algebraic Modeling System (GAMS) software's which has used Non-linear programming to resolve the Dynamic Economic Dispatch (DED) which is a part of optimal power flow problem. The impact of wind and solar integration on the cost-effective operation of thermal units while taking into considering IEEE-24 bus test system has been researched. In this paper, the reduction of a thermal plant's fuel consumption with the integration of wind and solar power is the primary focus of study.