Economic optimization with environmental cost for a microgrid

This paper presents a generalized formulation for the optimal operation of a microgrid. Multiple-objective optimization is applied to the environmental/ economic problem of the MG, considering the operating cost, fuel cost, depreciation cost as well as environmental cost. Weight coefficient N is proposed to coordinate the proportion of generating cost objective and environmental cost objective. The optimization is aimed at minimizing the total cost of the system while satisfying the customer demand and system security. A detail case, in which the microgrid is consisting of a cluster of wind turbines, micro turbines, photovoltaic arrays and fuel cells, is discussed. And the results demonstrate the efficiency of the proposed approach to satisfy the load and maximize the microgrid's interests.

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