Optimal economic load dispatch in smart grids considering uncertainty

This paper presents a probabilistic model for optimal economic load dispatch problem to address integration of renewable energy resources into conventional power system network grid. The power generated from the solar photovoltaic (PV) array unit and load demand are recognised as random variables with given probability distribution functions. The economic load dispatch objective function is converted into an equivalent deterministic model. An iterative procedure is used to select the input values of load demand and solar PV power generation from their respective probability distribution functions. Quadratic programming technique is applied to solve the transformed deterministic model. The proposed methodology yields the probability distributions of each power generation unit cost and its respective amount of power generation. A case study is used to illustrate the applicability of the proposed methodology. Results show that the proposed approach can provide more power system management information to the power system operators and/or planners and therefore enable better decision making.