Financial Risk-Based Scheduling of Micro grids Accompanied by Surveying the Influence of the Demand Response Program

Tohid Khalili, Hamed Ganjeh Ganjehlou, Ali Bidram, Sayyad Nojavan, Somayeh Asadi

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Scopus citations

Abstract

This paper presents an optimization approach based on mixed-integer programming (MIP) to maximize the profit of the Microgrid (MG) while minimizing the risk in profit (RIP) in the presence of demand response program (DRP). RIP is defined as the risk of gaining less profit from the desired profit values. The uncertainties associated with the RESs and loads are modeled using normal, Beta, and Weibull distribution functions. The simulation studies are performed in GAMS and MATLAB for 5 random days of a year. Although DRP increases the total profit of the MG, it can also increase the risk. The simulation results show that RIP is reduced when downside risk constraint (DRC) is considered along with DRP implementation. Considering DRC significantly reduces the percentage of the risk while slightly decreasinz the profit.

Original languageEnglish (US)
Title of host publication2021 IEEE/IAS 57th Industrial and Commercial Power Systems Technical Conference, I and CPS 2021
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781728186320
DOIs
StatePublished - Apr 27 2021
Event57th IEEE/IAS Industrial and Commercial Power Systems Technical Conference, I and CPS 2021 - Las Vegas, United States
Duration: Apr 27 2021Apr 30 2021

Publication series

NameConference Record - Industrial and Commercial Power Systems Technical Conference
Volume2021-April

Conference

Conference57th IEEE/IAS Industrial and Commercial Power Systems Technical Conference, I and CPS 2021
Country/TerritoryUnited States
CityLas Vegas
Period4/27/214/30/21

All Science Journal Classification (ASJC) codes

  • Engineering(all)

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