Reducing fuel cost and enhancing the resource utilization rate in energy economic load dispatch problem

Chen, Chao; Qu, Linan; Tseng, Ming‐Lang; Chen, Chih‐Cheng; Lim, Ming K.

doi:10.1016/j.jclepro.2022.132709

Cited by 9 publications

(2 citation statements)

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“…The primary objective of economic load dispatch is to minimize the total power generation cost while satisfying the operational constraints. The fuel cost function is optimized to obtain the optimum power generation conditions [1]. Overall fuel cost is expressed in the following terms [2]:…”

Section: Economic Dispatch With Thermal Unitsmentioning

confidence: 99%

See 1 more Smart Citation

A State-of-the-Art Review on Optimization Methods and Techniques for Economic Load Dispatch with Photovoltaic Systems: Progress, Challenges, and Recommendations

Fahim,

Silva,

Hussain

et al. 2023

Sustainability

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Fossil fuel is considered to be the primary power generation source. As this source is not that eco- and environmentally friendly, researchers are constantly searching for an alternative source for power generation. Renewable energy has drawn much attention in this regard in recent times. For solving economic load dispatch issues, numerous operational constraints must be considered. Due to the restructuring of the power sector, there is competition between different power systems organizations. Increasing fossil fuel costs drive power-producing utilities to adopt a cost-effective technique for dispatching actual power output. Due to the presence of nonlinearity and non-convexity in the fuel of cost function of generators, the economic load dispatch is often considered a complex optimization problem. Many researchers have been optimizing fuel costs to solve the economic power dispatch problem. This paper offers a critical analysis of ELD that takes into account both traditional and non-traditional energy sources. The review covers a variety of algorithms, including hybrid algorithms for integrating renewable energy sources (RES). The paper also focuses on several restricted optimization techniques and contemporary algorithms including PSO, Jaya, GWO, SMO, TLBO, Rao, MRao-2, and MFO to reduce the fuel cost of generation units using large-scale solar PV. Moreover, this paper provides a comprehensive overview of the current state of economic load dispatch and provides valuable insights for electricity researchers and practitioners. It also discusses future technologies and next steps in the field of ELD, emphasizing the need for more environmentally friendly and cost-effective power generation and distribution solutions. Overall, the paper demonstrates the benefits of renewable energy sources as well as optimization techniques for creating a more sustainable and efficient power generation system.

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Section: Economic Dispatch With Thermal Unitsmentioning

confidence: 99%

“…In recent times, power systems are facing numerous challenges due to the variability of power due to the integration of renewable energy sources. Hence, power companies are trying to determine new ways to optimize the cost of generation while maintaining all other operational requirements [1].…”

Section: Introductionmentioning

confidence: 99%