Optimization of Renewable Energy-Based Smart Micro-Grid System

Abstract

Optimization of renewable energy-based micro-grids is presently attracting significant consideration. Hence the main objective of this chapter is to evaluate the technical and economic performance of a micro-grid (MG) comparing between two operation modes; stand-alone (off-grid), and grid connected (on-grid). The micro-grid system (MGS) suggested components are; PV panels, wind turbine(s) inverter, and control unit in case of grid connected. In the stand alone mode diesel generator and short term storage are added to the renewable generators. To investigate the performance of the MGS; technically, detailed models for each component will be presented then the complete MGS model is developed. Another objective of this study is the economical evaluation of MGS by comparing the system net present cost (NPC) and cost of generated electricity for the two modes of operation; off-grid and on-grid. applications and REMG. This requires fulfilling the signed purchase power agreement (PPA), through regular payments and ability of transferring their revenues of selling electricity to dollar.