Towards reliable microgrids — An economic and environmental evaluation

This paper presents a methodology for the capacity optimization of a residential stand-alone microgrid employing solar photovoltaics (PVs), wind turbines (WTs), battery energy storage system (BESS), and diesel generator (DG) for electric power generation and typical house power demand and electrical vehicle (EV) power demand as load power demand. The cost function is formulated based upon life cycle cost, dump energy cost, and green-house gases (GHG) emissions. The optimization problem involves a variety of realistic constraints from hybrid renewable power generation, BESS, diesel generation system, and EVs. The sizing problem is formulated and solved for different possible topologies of renewable energy sources (PV and WT), BESS, and DG, and a comparison based upon cost per unit, GHG emissions, and emission reduction benefit cost is presented.

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