Optimal management and planning of storage systems based on particle swarm optimization technique

In restructured electric power systems under electricity market regulations, Distribution Companies (DISCOs) mainly aim at maximizing their profit subject to safe operation of the network. In this regard, optimal planning of Energy Storage Systems (ESSs) can be a very effective method to maximize DISCOs profit. This paper addresses an optimal methodology to signify the location and capacity of ESSs in distribution network under electricity market environment. The proposed optimal ESSs planning aims at maximizing DISCO profit subject to safe and secure operation constraints (e.g., voltage and flow limits). The maximization problem is mathematically expressed as a mixed integer non-linear programming and solved using particle swarm optimization algorithm. Simulations are carried out on a typical distribution network. Simulation results demonstrate significant impact of ESSs on the network operation, security constraint, and costs. The proposed planning not only increases the DISCO profit but also guarantees the safe operation of the network. As well, several stativity analyses are carried out to indicate the impact of parameters on the planning.