Harmonic and power loss minimization in power systems incorporating renewable energy sources and locational marginal pricing

In composite expansion planning, improving the efficiency and power quality of power supplied from Renewable Energy Sources (RES) is highly essential. Therefore, this paper focuses on developing an optimal power flow optimization model for minimizing power loss and harmonics emanating from RES with emphasis on reducing their impact on the Locational Marginal Prices. In order to assess the magnitude of harmonics, grid modelling and simulation with RES such as wind and solar energy were carried out using the Electrical Transient Analyzer Program 12.6.0 software. The proposed mixed integer nonlinear programming mathematical model was solved using the Outer Approximation Algorithm solver in the advanced interactive multidimensional modelling system, and the efficiency of the model was tested on the modified IEEE 6 bus and 24 bus system. The results obtained from simulations reveal the efficiency of the proposed model in terms of effective cost reduction, nodal marginal price reduction, minimization of harmonic losses, and additional lines in the power system network.