Solving power systems optimization problems in the presence of renewable energy sources using modified exchange market algorithm

Abstract

This paper introduces a novel evolutionary algorithm namely modified exchange market algorithm (MEMA) to solve the various problems in the power system operation topics such as combined heat and power economic emission dispatch (CHPEED), and multi-area economic dispatch (MAED) in the presence of renewable energy sources (RESs). The MEMA is a new version of the EMA that has been modified to improve its performance and to find a better solution with high robustness. To scrutiny the applicability of the MEMA, it is employed to solve the different problems with considering RESs. Also, to prove the scalability and evaluate the performance of the proposed method, several large and small scale test systems are used in each case. Also, three different approaches are considered to investigate the impacts of RESs. In the first approach, RESs are assumed to be a negative load, while in the latter case, their cost impacts on the problem are also considered. Finally, in the last approach, the uncertainty of RES and its stochastic nature are considered. In all test systems, the results obtained by the proposed method are compared with the results of other suggested techniques in this era. Also, the robustness of the proposed method is investigated using parametric and non-parametric statistical tests. The comparative and statistical analysis confirm the superiority and robustness of the proposed method over the other methods in all test systems.