Bi-Objective Optimization Model for Optimal Placement of Thyristor-Controlled Series Compensator Devices

Abstract

Exposure to extreme weather conditions increases power systems’ vulnerability in front of high impact, low probability contingency occurrence. In the post-restructuring years, due to the increasing demand for energy, competition between electricity market players and increasing penetration of renewable resources, the provision of effective resiliency-based approaches has received more attention. In this paper, as the major contribution to current literature, a novel approach is proposed for resiliency improvement in a way that enables power system planners to manage several resilience metrics efficiently in a bi-objective optimization planning model simultaneously. For demonstration purposes, the proposed method is applied for optimal placement of the thyristor controlled series compensator (TCSC). Improvement of all considered resilience metrics regardless of their amount in a multi-criteria decision-making framework is novel in comparison to the other previous TCSC placement approaches. Without loss of generality, the developed resiliency improvement approach is applicable in any power system planning and operation problem. The simulation results on IEEE 30-bus and 118-bus test systems confirm the practicality and effectiveness of the developed approach. Simulation results show that by considering resilience metrics, the performance index, importance of curtailed consumers, congestion management cost, number of curtailed consumers, and amount of load loss are improved by 0.63%, 43.52%, 65.19%, 85.93%, and 85.94%, respectively.

Multi-Objective Profit-Based Unit Commitment with Renewable Energy and Energy Storage Units Using a Modified Optimization Method

“…Multi-criteria decision-making techniques should be used to handle several realworld problems that need concurrent optimization of multiple objective functions [55,56]. Therefore, it seems typical to obtain a set of optimal solutions rather than just one [57].…”

Efficient Scheduling of Home Energy Management Controller (HEMC) Using Heuristic Optimization Techniques

“…To improve the resiliency of the system, the authors in [42] proposed a new approach that is based on a genetic algorithm to empower the system planners to effectively handle different resiliency matrices in a bi-objective optimization planning model. A novel mixedinteger model was proposed by the authors in [43] to control the performance and efficiency of a LESS when used in conjunction with a DR scheme.…”

Methods of Fuzzy Multi-Criteria Decision Making for Controlling the Operating Modes of the Stabilization Column of the Primary Oil-Refining Unit

“…The problems of applying multi-parameter fuzzy optimization in practice are studied in [25,26], and approaches to optimization in a fuzzy environment by oil refining are proposed in [27,28]. Aspects of technological systems such as power grids and the multi-criteria decision-making structure between the designer of a renewable power plant and an independent system operator are explored in [29,30].…”

“…The study [29] proposes an approach to improve fault tolerance, allowing power system planners to effectively manage multi-criteria sustainability indicators in a two-objective optimization planning model at the same time. In [30], a combination of a multi-criteria decision-making approach and a multi-agent modeling method was developed to obtain the maximum possible profit from a renewable generation plan.…”