Stochastic multi-objective model for optimal sizing of energy storage system in a microgrid under demand response program considering reliability: A weighted sum method and fuzzy satisfying approach

Abstract

In this paper, a multi-objective optimization model is proposed to calculate best possible size of energy storage system (ESS). The proposed model is solved utilizing weighted sum method. Positive effects of demand response program (DRP) are considered in the proposed paper. By utilizing the weighted sum method, many various solutions are obtained. Then to select the best possible solution, fuzzy satisfying approach is employed. The proposed multi-objective model includes two conflicting objective functions: 1) the first objective function is minimization of microgrid investment cost as well as operation cost; 2) the second objective function is minimization of loss of load expectation (LOLE). Microgrid includes some local units inside itself which may have some unknown outages and also due to variable and unstable output of renewable units, utilization of ESS is essential to improve stability of microgrid. Impact of DRP implementation is evaluated on microgrid related costs and the results are compared to validate the proposed technique. In order to simulate and model the proposed stochastic ESS optimal sizing problem in a microgrid, a mixed-integer program (MIP) is utilized.