Economic Optimization of Distributed Generation: Microgrid Integration of Wind, Solar, and Energy Storage Systems

Taylor Edwards

Humboldt State University

Kansas State University, Earth Wind and Fire REU Program

AIChE Undergraduate Poster Abstract

Economic Optimization of Distributed Generation: Microgrid

Integration of Wind, Solar, and Energy Storage Systems

Topic: Energy

In many cases, the implementation of renewable energy systems is economically undesirable. Developments in the methods of grid integration can improve economic desirability of renewable energy systems. A computer model is being developed within Kansas State University's Electrical and Computer Engineering department, which aims to optimize the siting of renewable energy systems for the prevention of brown-out events within a microgrid. The NSGA-II multi-objective optimization model is to be written and executed using MATLAB. The model minimizes electrical properties: real and reactive power loss ratio, voltage ratio, and capacity index; however, economic factors have not been considered. The economic optimization with respect to renewable distributed generation and storage is divided into two components. The first component of the economic optimization is concerned with the sizing of renewable energy generators and storage systems. Engineering economics analysis is applied to the optimization model to determine the optimal size of renewable energy generators and storage systems while satisfying constraints. The second component of the economic optimization aims to optimize the distribution of energy within the system. Energy distribution is optimized using forecasts of energy demand and renewable energy generation. The overall objective of the economic optimization is to minimize the present value of implementation. Results will be obtained once the electronics optimization model is completed.