Economic Dispatch for Hybrid Power System

Abstract

The power grids are increasingly growing while involving different types of energy sources. The fossil fuels power plants are still account for most of the generation in the current power grids. The cost of fossil fuels, emission and/or losses are representing some operational constraints on the operation of the modern power system. Renewable Energy Sources (RESs) recently are considered for securing electricity demand in different power systems. However, these sources are subjected to climatological dependence and a high degree of uncertainty. Economic Dispatch (ED) is the key tool for running modern electrical power systems. It optimizes the energy cost while fulfilling the load requirements. ED considers different generation types including renewable sources. Moreover, ED techniques could be modified according to the operating scenarios and the imposed limitations. This article discusses comprehensively the evolution of ED from traditional techniques up to Artificial Intelligence (ED) methods. Moreover, the article analyzes the ED while integrating RESs. Moreover, different energy storage systems for mitigating the limitations of RESs are analyzed. The article concludes the significance of RESs in optimizing the operating costs achieving around 35% drop in the cost of energy. Moreover, RESs increase the margin of security and fulfill the sustainability requirement in the modern power systems.