Development and Improvement of Renewable Energy Integrated with Energy Trading Schemes based on Advanced Optimization Approaches

Abstract

Developed power system models contain renewable resources in grid-connected mode to meet the load requirements. Optimization approaches, like game theory, are used to design the models and to achieve correct sizing and optimum payoff. Objectives are to improve reliability, minimize the power outage, and increase profit. Systems are integrated with P2P energy trading and formulated based on multi-object optimization, where criteria are profit, reliability index, loss of power supply probability, and levelized cost of energy.