Integrating renewables economic dispatch with demand side management in micro-grids: a genetic algorithm-based approach

Economic dispatch and demand side management are two of the most important tools for efficient energy management in the grid. It is a casual observation that both these processes are intertwined and thus complement each other. Strategies aiming to optimize economic dispatch have implications for demand side management techniques and vice versa. In this paper, we present a genetic algorithm-based solution which combines economic dispatch and demand side management for residential loads in a micro-grid. Our system collects preferences of demand data from consumers and costs of energy of various sources. It then finds the optimal demand scheduling and energy generation mix for the given time window. Our evaluations show that the given approach can effectively reduce operating costs in a single- and multiple-facility micro-grids for both suppliers and consumers alike.