Abstract
The need for energy and environmental sustainability has spurred investments in renewable energy technologies worldwide. However, the flexibility needs of the power system have increased due to the intermittent nature of the energy sources. This paper investigates the prospects of interlinking short-term flexibility value into long-term capacity planning towards achieving a microgrid with a high renewable energy fraction. Demand Response Programs (DRP) based on critical peak and time-ahead dynamic pricing are compared for effective demand-side flexibility management. The system components include PV, wind, and energy storages (ESS), and several optimal component-sizing scenarios are evaluated and compared using two different ESSs without and with the inclusion of DRP. To achieve this, a multi-objective problem which involves the simultaneous minimization of the loss of power supply probability (LPSP) index and total life-cycle costs is solved under each scenario to investigate the most cost-effective microgrid planning approach. The time-ahead resource forecast for DRP was implemented using the scikit-learn package in Python, and the optimization problems are solved using the Multi-Objective Particle Swarm Optimization (MOPSO) algorithm in MATLAB®. From the results, the inclusion of forecast-based DRP and PHES resulted in significant investment cost savings due to reduced system component sizing.
Highlights
The quest for provision of affordable, clean, and reliable electricity supply is the key aspiration of many nations globally
The optimal size of system components is determined under each case at minimum investment costs and maximum supply reliability while satisfying the system operational and flexibility requirements
This paper investigated the prospects of interlinking the cost of short-term flexibility management of microgrid with the long-term optimal capacity planning models towards achieving a 100% green microgrid by using Demand Response Programs (DRP) and forecasting
Summary
The quest for provision of affordable, clean, and reliable electricity supply is the key aspiration of many nations globally. These aspirations are portrayed by the commitment of most countries to the formulation and chartering of strategic policies that are targeted towards attaining 100% green energy transition in the near future [1]. Sci. 2019, 9, 3855 wind and solar energy. Countries such as Kenya [5], Ghana [6], Mauritius [7], Nigeria [8], Egypt, and
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