Profit maximization in hybrid microgrid system incorporating demand response and plug in EV

Increasing concern for environment has forced people to look for alternatives that are eco-friendly, thereby increasing the penetration of renewable resources. The opportunity to ameliorate economic status of consumers by generating revenue and by maximizing profit encourages consumers to look for substitute for conventional generation techniques. Operation cost minimization and export maximization are the two stages of profit maximization. By recognizing the optimal combination of DG resources such as photovoltaic (PV), wind energy resources, battery and microturbine and incorporation of demand response (DR) program with optimal scheduling of plug-in hybrid electric vehicle (PHEV), electricity import from the grid is reduced, thereby minimizing overall operation cost. The proposed DR program reduces imported electricity in peak hours by shifting non-emergency loads, which are classified here as controllable loads to off-peak hours, resulting in reduced import cost. Import cost and profit comparison for the considered systems under different levels of DR in the presence of multiple DG resources and EV for different scenarios are investigated to illustrate the effectiveness of the proposed DR. Maximized profit of microgrid operator is obtained by implementing the proposed method in the test systems. The results obtained are propitious.