Comparison of various electricity market pricing strategies to reduce generation cost of a microgrid system using hybrid WOA-SCA

• Published in: Evolutionary intelligence Vol. 15; no. 3; pp. 1587 - 1604
• Main Authors: Dey, Bishwajit, Bhattacharyya, Biplab
• Format: Journal Article
• Language: English
• Published: Berlin/Heidelberg Springer Berlin Heidelberg 01.09.2022; Springer Nature B.V
• Subjects: Algorithms; Applications of Mathematics; Artificial Intelligence; Bioinformatics; Control; Cost analysis; Distributed generation; Economic analysis; Electricity; Electricity pricing; Engineering; Hybrid systems; Low voltage; Mathematical and Computational Engineering; Mechatronics; Optimization; Optimization techniques; Research Paper; Robotics; Robustness (mathematics); Statistical Physics and Dynamical Systems; Trigonometric functions; Sine cosine algorithm; Whale optimization algorithm; Microgrid; Optimal scheduling; Electricity market

This paper aims to minimize the generation cost of a low voltage (LV) grid-connected microgrid system using a novel hybrid whale optimization algorithm (WOA)- Sine cosine algorithm (SCA) optimization technique. Three different methods of electricity market prices are formulated in turns and the gene...