TY - GEN
T1 - Financial Risk-Based Scheduling of Micro grids Accompanied by Surveying the Influence of the Demand Response Program
AU - Khalili, Tohid
AU - Ganjehlou, Hamed Ganjeh
AU - Bidram, Ali
AU - Nojavan, Sayyad
AU - Asadi, Somayeh
N1 - Publisher Copyright:
© 2021 IEEE.
PY - 2021/4/27
Y1 - 2021/4/27
N2 - This paper presents an optimization approach based on mixed-integer programming (MIP) to maximize the profit of the Microgrid (MG) while minimizing the risk in profit (RIP) in the presence of demand response program (DRP). RIP is defined as the risk of gaining less profit from the desired profit values. The uncertainties associated with the RESs and loads are modeled using normal, Beta, and Weibull distribution functions. The simulation studies are performed in GAMS and MATLAB for 5 random days of a year. Although DRP increases the total profit of the MG, it can also increase the risk. The simulation results show that RIP is reduced when downside risk constraint (DRC) is considered along with DRP implementation. Considering DRC significantly reduces the percentage of the risk while slightly decreasinz the profit.
AB - This paper presents an optimization approach based on mixed-integer programming (MIP) to maximize the profit of the Microgrid (MG) while minimizing the risk in profit (RIP) in the presence of demand response program (DRP). RIP is defined as the risk of gaining less profit from the desired profit values. The uncertainties associated with the RESs and loads are modeled using normal, Beta, and Weibull distribution functions. The simulation studies are performed in GAMS and MATLAB for 5 random days of a year. Although DRP increases the total profit of the MG, it can also increase the risk. The simulation results show that RIP is reduced when downside risk constraint (DRC) is considered along with DRP implementation. Considering DRC significantly reduces the percentage of the risk while slightly decreasinz the profit.
UR - http://www.scopus.com/inward/record.url?scp=85105730381&partnerID=8YFLogxK
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U2 - 10.1109/ICPS51807.2021.9416627
DO - 10.1109/ICPS51807.2021.9416627
M3 - Conference contribution
AN - SCOPUS:85105730381
T3 - Conference Record - Industrial and Commercial Power Systems Technical Conference
BT - 2021 IEEE/IAS 57th Industrial and Commercial Power Systems Technical Conference, I and CPS 2021
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 57th IEEE/IAS Industrial and Commercial Power Systems Technical Conference, I and CPS 2021
Y2 - 27 April 2021 through 30 April 2021
ER -