Components of Virtual Power Plant

Ninagawa, Chuzo

doi:10.1007/978-981-16-6148-8_4

Cited by 1 publication

(1 citation statement)

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“…However, unlike centralized systems, this approach is not prone to single-point failures, as each DER can operate independently, enhancing the system's overall resilience. While the distributed approach offers these advantages, it faces the complexity of balancing local and global objectives, requiring sophisticated optimization algorithms [37]. A summarized overview of these key research works, including their methodologies, findings, and contributions, is presented in Table 2 for a comprehensive comparative analysis.…”

Section: Vpp-based Economic Dispatchmentioning

confidence: 99%

Economic Dispatch Optimization Strategies and Problem Formulation: A Comprehensive Review

Marzbani,

Abdelfatah

2024

Energies

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Economic Dispatch Problems (EDP) refer to the process of determining the power output of generation units such that the electricity demand of the system is satisfied at a minimum cost while technical and operational constraints of the system are satisfied. This procedure is vital in the efficient energy management of electricity networks since it can ensure the reliable and efficient operation of power systems. As power systems transition from conventional to modern ones, new components and constraints are introduced to power systems, making the EDP increasingly complex. This highlights the importance of developing advanced optimization techniques that can efficiently handle these new complexities to ensure optimal operation and cost-effectiveness of power systems. This review paper provides a comprehensive exploration of the EDP, encompassing its mathematical formulation and the examination of commonly used problem formulation techniques, including single and multi-objective optimization methods. It also explores the progression of paradigms in economic dispatch, tracing the journey from traditional methods to contemporary strategies in power system management. The paper categorizes the commonly utilized techniques for solving EDP into four groups: conventional mathematical approaches, uncertainty modelling methods, artificial intelligence-driven techniques, and hybrid algorithms. It identifies critical research gaps, a predominant focus on single-case studies that limit the generalizability of findings, and the challenge of comparing research due to arbitrary system choices and formulation variations. The present paper calls for the implementation of standardized evaluation criteria and the inclusion of a diverse range of case studies to enhance the practicality of optimization techniques in the field.

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Section: Vpp-based Economic Dispatchmentioning

confidence: 99%